One of the most dreaded feelings for an investor is when the stock they just bought is overvalued, or they missed out on an undervalued opportunity by not acting fast enough.

But what if you had the insights to effectively evaluate a company like Core & Main Inc before investing? Investing requires a certain perspective to avoid being overly confident in a company or worried about cyclical changes. A smart way to take the guesswork out of knowing when to buy or sell Core & Main Inc’s stock is to have the right tools and resources as well as a clear monitoring process.

In this article, we go over a few key elements for understanding Core & Main Inc’s stock price such as:

• Current stock price and volume
• Stock price history
• Upgrades and downgrades from analysts
• Stock price momentum as measured by its relative strength

About Core & Main Inc (CNM)

Before we jump into Core & Main Inc’s stock price, history, target price and what caused it to recently dip, let’s take a look at some background.

Core & Main, Inc. is a holding company. It is focused on advancing reliable infrastructure with local services, nationwide. It is a specialized distributor with a focus on water, wastewater, storm drainage and fire protection products, and related services. It provides solutions to municipalities, private water companies and professional contractors across municipal, non-residential and residential end markets, nationwide. Its specialty products and services are used in the maintenance, repair, replacement and new construction of water, wastewater, storm drainage and fire protection infrastructure. It has a network of approximately 320 branch locations in 48 states across the United States. Its comprehensive product portfolio consists of more than 200,000 stock-keeping units from approximately 4,500 suppliers. Its offering consists of pipes, valves and fittings, storm drainage products, fire protection products and fabrication services, and smart metering products and technology.

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Core & Main Inc’s Stock Price as of Market Close

As of September 06, 2023, 4:01 PM CST, Core & Main Inc’s stock price was $29.50.

Core & Main Inc is down 6.62% from its previous closing price of $31.59.

During the last market session, Core & Main Inc’s stock traded between $31.50 and $32.97. Currently, there are 171.60 million shares of Core & Main Inc stock available for purchase.

Core & Main Inc’s price-earnings (P/E) ratio is currently at 14.9, which is low compared to the Industrial Machinery & Equipment industry median of 23.1. The price-earnings ratio gauges market expectation of future performance by relating a stock’s current share price to its earnings per share.

Core & Main Inc Stock Price History

Core & Main Inc’s (CNM) price is currently down 10.17% so far this month.

During the month of September, Core & Main Inc’s stock price has reached a high of $33.25 and a low of $28.79.

Over the last year, Core & Main Inc has hit prices as high as $33.32 and as low as $18.75. Year to date, Core & Main Inc’s stock is down 2.77%.

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What Caused Core & Main Inc Stock’s Price to Dip?

Stock prices are primarily based on seller supply and buyer demand. But have you ever wondered about what other factors affect a stock's price?

One of the most common factors that can drastically impact a stock’s price is analyst upgrades and downgrades. When an analyst changes their opinion of a stock by upgrading or downgrading their rating, it often leads to a sudden stock price adjustment. However, as of September 05, 2023,, no analysts have changed their rating of Core & Main Inc’s stock over the last month.

Additionally, you'll want to evaluate Core & Main Inc’s financial health and valuation. It is possible for a stock to appear cheap based on one valuation metric but appear expensive on another. It is also possible for one valuation ratio to be associated with outperforming stocks during certain periods of time but not others.

Therefore, AAII developed a composite valuation to help resolve such issues. AAII’s Value Grade analyzes six distinct variables: price-to-sales (P/S) ratio, price-earnings (P/E) ratio, the ratio of enterprise value to earnings before interest, taxes, depreciation and amortization (EV/EBITDA), shareholder yield, price-to-book-value (P/B) ratio and price-to-free-cash-flow (P/FCF) ratio.

Core & Main Inc’s current valuation based on AAII’s Value Grade is a C, which means it is considered to be Average.

Learn how to evaluate stocks with AAII Grades and Scores with A+ Investor today.

Lastly, news and media coverage as well as recent press reports about the company or its industry may cause stock prices to fluctuate. You can check out the most recent news articles about Core & Main Inc (CNM) by visiting AAII Stock Evaluator.

Relative Price Strength of Core & Main Inc

Relative price strength addresses the relationship between a stock price’s trend and the price trend of the market. This ratio is expressed as a percentage and helps investors understand a company’s momentum as well as its value. You can use relative price strength to select investments that have been outperforming the market or a specific benchmark.

For AAII’s Momentum Grade, a weighted relative price strength is calculated. The weighted four-quarter relative price strength rank is the relative price change for each of the past four quarters. The most recent quarterly price change is given a weight of 40%, and each of the three previous quarters are given a weighting of 20%.

As of September 05, 2023, Core & Main Inc has a weighted four-quarter relative price strength of 5.47%, which translates to a Momentum Score of 83 and is considered to be Very Strong.

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Core & Main Inc Stock Price: Bottom Line

As of September 6, 2023, Core & Main Inc’s stock price is $29.50, which is down 6.62% from its previous closing price.

At AAII, we stress that investors should never buy or sell a stock solely based on its stock price. Past returns do not guarantee future performance. Therefore, you should consider multiple ratios, fundamentals and analytics before making a decision. Whether you decide it’s a good time to buy or sell Core & Main Inc’s stock based on its stock price forecast is ultimately up to you.

It’s important to understand that stock prices are driven by a variety of factors, but ultimately the price at any given moment is due to the supply and demand in the market. Stock price overviews, like the one you just read, only give you a small snapshot of a company’s performance, value and momentum.

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