Wells Fargo has recently initiated Core & Main Inc (CNM) stock to Overweight rating, as announced on September 23, 2024, according to Finviz. Earlier, on April 5, 2024, Citigroup had reduced the stock from a Buy to Neutral, setting a price target of $64 for CNM stock. Citigroup also raised Buy rating with a price target of $48. Additionally, Wolfe Research raised Outperform rating on October 12, 2023, with a target price of $40. Northcoast analysts, in their report published on June 13, 2023, also initiated Buy rating for Core & Main Inc’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
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Core & Main Inc (CNM) Stock Trading Recap
On Monday, Core & Main Inc (CNM) stock saw a decline, ending the day at $44.4 which represents a decrease of $-1.37 or -2.99% from the prior close of $45.77. The stock opened at $45.48 and touched a low of $43.61 during the day, reaching a high of $45.71. The volume of shares traded was 3.21 million exceeding the average volume of 2.67 million.
CNM Stock Performance and Moving Averages
In recent trading, Core & Main Inc (CNM) stock price has shown some volatility, fluctuating 0.52% over the last five trades and -8.04% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by -22.49%, and it has plunged by -8.30% in the previous three months. Currently, CNM is trading at 5.05%, -6.27%, and -9.66% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, CNM, a Industrials sector stock, is trading -28.56% below its 52-week high but remains 58.68% above its 52-week low. The Average True Range (ATR) (14 days) of 1.67 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
Core & Main Inc’s Profitability and Valuation Ratios
Core & Main Inc’s profitability metrics reveal strong financial health. The company currently boasts an operating margin of 10.21% and a profit margin of 5.58%, with a gross margin of -22.49%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, Core & Main Inc’s market capitalization stands at $8.55 billion. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. The stock’s price-to-earnings (P/E) ratio is 21.27, assessing the company’s valuation relative to its earnings. The forward P/E ratio, which uses projected earnings for the next financial year, is 18.3. Additionally, the Price-to-Sales Ratio is 1.23, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 5.2, comparing the market value to the company’s book value.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 0.36% of Core & Main Inc (CNM)’s shares, while financial institutions hold 104.93%.
Notable insider trades include Gipson Dennis G, Director at Core & Main Inc (CNM), who sold 25000 shares on Jul 16 ’24, at $53.08 each, totaling $1.33 million. On Jul 15 ’24, Castellano James G, Director, sold 12500 shares for $52.22 each, amounting to $0.65 million. Additionally, on Jul 11 ’24, Castellano James G sold 12300 shares at $50.7 each, generating $0.62 million.
