Core & Main (NYSE:CNM) Price Target Cut to $50.00 by Analysts at Truist Financial

Core & Main (NYSE:CNM) had its target price cut by Truist Financial from $56.00 to $50.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a hold rating on the stock.

CNM has been the subject of a number of other research reports. Barclays decreased their price target on shares of Core & Main from $69.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday. Wells Fargo & Company reduced their target price on Core & Main from $70.00 to $58.00 and set an “overweight” rating for the company in a research note on Wednesday. Loop Capital reiterated a “hold” rating and set a $68.00 price target on shares of Core & Main in a research note on Monday, July 28th. Citigroup cut their price objective on Core & Main from $62.00 to $54.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, JPMorgan Chase & Co. decreased their target price on Core & Main from $64.00 to $54.00 and set an “overweight” rating for the company in a report on Wednesday. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $59.30.

Core & Main Trading Up 2.0%

Core & Main stock opened at $49.52 on Thursday. 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 stock has a market cap of $9.76 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 1.45 and a beta of 1.04. The stock has a 50-day moving average of $63.12 and a two-hundred day moving average of $56.02. Core & Main has a one year low of $38.66 and a one year high of $67.18.

Core & Main (NYSE:CNM) last issued its quarterly earnings results 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. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.12 billion. Core & Main had a return on equity of 25.44% and a net margin of 5.57%.The company’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.61 earnings per share. Core & Main has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Core & Main will post 2.16 EPS for the current fiscal year.

Insider Buying and Selling at Core & Main

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

Hedge Funds Weigh In On Core & Main

A number of hedge funds have recently bought and sold shares of CNM. Ameriprise Financial Inc. raised its stake in shares of Core & Main by 9.9% during the 4th quarter. Ameriprise Financial Inc. now owns 240,388 shares of the company’s stock worth $12,238,000 after buying an additional 21,702 shares during the period. BNP Paribas Financial Markets purchased a new position in Core & Main during the fourth quarter valued at $2,669,000. Deutsche Bank AG grew its position in shares of Core & Main by 2.0% in the fourth quarter. Deutsche Bank AG now owns 111,944 shares of the company’s stock valued at $5,699,000 after purchasing an additional 2,207 shares during the period. Ensign Peak Advisors Inc grew its position in shares of Core & Main by 12.7% in the fourth quarter. Ensign Peak Advisors Inc now owns 64,111 shares of the company’s stock valued at $3,264,000 after purchasing an additional 7,230 shares during the period. Finally, Lighthouse Investment Partners LLC purchased a new stake in shares of Core & Main during the fourth quarter worth about $270,000. Hedge funds and other 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.