Core & Main (NYSE:CNM) Given New $65.00 Price Target at Barclays

Core & Main (NYSE:CNM) had its price objective reduced by Barclays from $69.00 to $65.00 in a report issued on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also recently issued reports on the company. Loop Capital restated a “hold” rating and set a $68.00 target price on shares of Core & Main in a report on Monday, July 28th. Royal Bank Of Canada dropped their price target on Core & Main from $67.00 to $62.00 and set an “outperform” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. raised their price target on Core & Main from $56.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday, September 4th. Citigroup raised their price target on Core & Main from $56.00 to $62.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 10th. Finally, Wells Fargo & Company raised their price target on Core & Main from $65.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 8th. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Core & Main presently has an average rating of “Moderate Buy” and a consensus price target of $59.90.

Core & Main Price Performance

Shares of CNM stock opened at $48.57 on Wednesday. The stock has a 50-day moving average price of $63.38 and a 200 day moving average price of $56.02. The company has a quick ratio of 1.10, a current ratio of 2.25 and a debt-to-equity ratio of 1.14. The firm has a market cap of $9.57 billion, a price-to-earnings ratio of 21.68, a PEG ratio of 1.47 and a beta of 1.04. Core & Main has a 12 month low of $37.22 and a 12 month high of $67.18.

Core & Main (NYSE:CNM) last issued its earnings results on Tuesday, September 9th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.08. Core & Main had a return on equity of 25.44% and a net margin of 5.57%.The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.12 billion. During the same quarter last year, the business earned $0.61 earnings per share. The company’s revenue was up 6.6% compared to the same quarter last year. Core & Main has set its FY 2025 guidance at EPS. Research analysts expect that Core & Main will post 2.16 EPS for the current year.

Insider Activity

In related news, Director James G. Castellano sold 43,994 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $61.98, for a total transaction of $2,726,748.12. Following the completion of the transaction, the director directly owned 4,638 shares of the company’s stock, valued at approximately $287,463.24. This represents a 90.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Mark R. Witkowski sold 100,000 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $64.08, for a total value of $6,408,000.00. Following the completion of the sale, the chief executive officer directly owned 35,847 shares of the company’s stock, valued at approximately $2,297,075.76. The trade was a 73.61% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 422,956 shares of company stock valued at $26,343,241. Corporate insiders own 3.53% of the company’s stock.

Hedge Funds Weigh In On Core & Main

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC raised its holdings in Core & Main by 145.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock valued at $27,000 after acquiring an additional 269 shares in the last quarter. Bfsg LLC raised its holdings in Core & Main by 56.4% in the 2nd quarter. Bfsg LLC now owns 560 shares of the company’s stock valued at $34,000 after acquiring an additional 202 shares in the last quarter. Hantz Financial Services Inc. raised its holdings in Core & Main by 815.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 641 shares of the company’s stock valued at $39,000 after acquiring an additional 571 shares in the last quarter. Parallel Advisors LLC raised its holdings in Core & Main by 447.1% in the 1st quarter. Parallel Advisors LLC now owns 651 shares of the company’s stock valued at $31,000 after acquiring an additional 532 shares in the last quarter. Finally, Rossby Financial LCC acquired a new position in Core & Main in the 1st quarter valued at $37,000. 94.19% of the stock is owned by institutional investors and hedge funds.

Core & Main Company Profile

Core & Main, Inc is a specialty distributor focused on water, wastewater, storm drainage and fire protection products, and related services. The company provides infrastructure solutions to municipalities, private water companies and professional contractors across municipal, non-residential, and residential end markets, nationwide.