Truist Financial Remains a Hold on Core & Main (CNM)

In a report released today, Keith Hughes from Truist Financial maintained a Hold rating on Core & Main (CNM – Research Report). The company’s shares closed yesterday at $54.49.

According to TipRanks, Hughes is a top 25 analyst with an average return of 25.0% and a 69.91% success rate. Hughes covers the Industrials sector, focusing on stocks such as Builders Firstsource, PGT, and TopBuild.

Currently, the analyst consensus on Core & Main is a Moderate Buy with an average price target of $53.14.

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Based on Core & Main’s latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $1.44 billion and a net profit of $63 million. In comparison, last year the company earned a revenue of $1.37 billion and had a net profit of $54 million

Based on the recent corporate insider activity of 92 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CNM in relation to earlier this year. Most recently, in January 2024, CD&R Investment Associates X, Ltd., a Major Shareholder at CNM sold 22,907,815.00 shares for a total of $938,762,258.70.

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Core & Main (CNM) Company Description:

Core & Main LP Core & Main is a distributor of water, sewer, storm drain, and fire protection products in the United States. It combines local expertise with a national supply chain to provide contractors and municipalities solutions for new construction and aging infrastructure.