Core & Main (NYSE:CNM) PT Lowered to $50.00

Core & Main (NYSE:CNMGet Free Report) had its price target lowered by research analysts at Truist Financial from $56.00 to $50.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s target price points to a potential upside of 5.53% from the stock’s current price.

A number of other equities analysts have also weighed in on the company. Barclays boosted their target price on Core & Main from $49.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. The Goldman Sachs Group boosted their target price on Core & Main from $42.00 to $61.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 26th. Loop Capital boosted their target price on Core & Main from $58.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Citigroup lowered Core & Main from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $63.00 to $64.00 in a research report on Friday, April 5th. Finally, JPMorgan Chase & Co. boosted their target price on Core & Main from $38.00 to $54.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Core & Main has a consensus rating of “Moderate Buy” and an average target price of $51.08.

View Our Latest Research Report on CNM

Core & Main Stock Performance

Shares of Core & Main stock opened at $47.38 on Wednesday. The stock has a market cap of $9.54 billion, a price-to-earnings ratio of 22.14, a PEG ratio of 1.50 and a beta of 1.12. The firm’s 50-day moving average is $57.41 and its 200 day moving average is $48.01. Core & Main has a 1 year low of $27.06 and a 1 year high of $62.15. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.14 and a quick ratio of 1.30.

Core & Main (NYSE:CNMGet Free Report) last announced its quarterly earnings results on Tuesday, June 4th. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.02). The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.72 billion. Core & Main had a return on equity of 20.01% and a net margin of 5.53%. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.50 EPS. Sell-side analysts anticipate that Core & Main will post 2.57 EPS for the current fiscal year.

Insider Activity at Core & Main

In related news, CAO John Weldon Stephens sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $57.91, for a total transaction of $868,650.00. Following the completion of the transaction, the chief accounting officer now directly owns 4,281 shares in the company, valued at approximately $247,912.71. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Mark R. Witkowski sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $58.51, for a total transaction of $2,925,500.00. Following the completion of the transaction, the chief financial officer now directly owns 23,898 shares in the company, valued at approximately $1,398,271.98. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO John Weldon Stephens sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $57.91, for a total value of $868,650.00. Following the transaction, the chief accounting officer now owns 4,281 shares of the company’s stock, valued at $247,912.71. The disclosure for this sale can be found here. In the last ninety days, insiders sold 230,000 shares of company stock worth $13,191,217. 3.49% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rise Advisors LLC bought a new position in Core & Main in the 1st quarter worth approximately $27,000. ORG Partners LLC bought a new position in Core & Main in the 1st quarter worth approximately $38,000. Quadrant Capital Group LLC boosted its stake in Core & Main by 74.5% in the 4th quarter. Quadrant Capital Group LLC now owns 855 shares of the company’s stock worth $35,000 after purchasing an additional 365 shares during the period. Mitsubishi UFJ Trust & Banking Corp bought a new position in Core & Main in the 3rd quarter worth approximately $28,000. Finally, GAMMA Investing LLC bought a new position in Core & Main in the 4th quarter worth approximately $41,000. 94.19% of the stock is currently owned by institutional investors.

Core & Main Company Profile

(Get Free Report)

Core & Main, Inc distributes water, wastewater, storm drainage, and fire protection products and related services to municipalities, private water companies, and professional contractors in the municipal, non-residential, and residential end markets in the United States. Its products portfolio include pipes, valves, hydrants, fittings, and other products and services; storm drainage products, such as corrugated piping systems, retention basins, inline drains, manholes, grates, geosynthetics, erosion control, and other related products; fire protection products, including fire protection pipes, and sprinkler heads and devices, as well as fabrication services; and meter products, such as smart meter products, meter sets, meter accessories, installation, software, and other services.

Featured Stories

Analyst Recommendations for Core & Main (NYSE:CNM)

Receive News & Ratings for Core & Main Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Core & Main and related companies with MarketBeat.com's FREE daily email newsletter.