Core & Main (NYSE:CNM) Price Target Lowered to $54.00 at JPMorgan Chase & Co.

Core & Main (NYSE:CNM) had its price target cut by JPMorgan Chase & Co. from $64.00 to $54.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also issued reports on the stock. Wells Fargo & Company dropped their target price on shares of Core & Main from $70.00 to $58.00 and set an “overweight” rating on the stock in a research report on Wednesday. Citigroup boosted their target price on shares of Core & Main from $56.00 to $62.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 10th. Barclays dropped their target price on shares of Core & Main from $69.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday. Royal Bank Of Canada dropped their target price on shares of Core & Main from $67.00 to $62.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Loop Capital reaffirmed a “hold” rating and set a $68.00 target price on shares of Core & Main in a research report on Monday, July 28th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $59.90.

Core & Main Stock Down 2.3%

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

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

Insider Activity

In other news, insider Stephen O. Leclair sold 80,028 shares of the firm’s stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $62.27, for a total value of $4,983,343.56. Following the completion of the sale, the insider directly owned 70,736 shares in the company, valued at approximately $4,404,730.72. This trade represents a 53.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Orvin T. Kimbrough sold 23,962 shares of the firm’s stock in a transaction on Friday, July 18th. The shares were sold at an average price of $61.77, for a total value of $1,480,132.74. Following the completion of the sale, the director owned 13,958 shares of the company’s stock, valued at approximately $862,185.66. This trade represents a 63.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 422,956 shares of company stock valued at $26,343,241. 3.53% of the stock is owned by company insiders.

Hedge Funds Weigh In On Core & Main

Several hedge funds have recently added to or reduced their stakes in the company. Squarepoint Ops LLC bought a new position in Core & Main in the second quarter valued at about $3,600,000. Thrivent Financial for Lutherans boosted its holdings in Core & Main by 42.4% in the second quarter. Thrivent Financial for Lutherans now owns 208,499 shares of the company’s stock valued at $12,583,000 after acquiring an additional 62,096 shares during the last quarter. State of Wyoming bought a new position in Core & Main in the second quarter valued at about $190,000. Captrust Financial Advisors lifted its stake in Core & Main by 4.1% in the second quarter. Captrust Financial Advisors now owns 63,227 shares of the company’s stock valued at $3,816,000 after buying an additional 2,509 shares during the period. Finally, Tidal Investments LLC lifted its stake in Core & Main by 39.7% in the second quarter. Tidal Investments LLC now owns 14,610 shares of the company’s stock valued at $882,000 after buying an additional 4,151 shares during the period. Institutional investors own 94.19% of the company’s stock.

About Core & Main

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.