Core & Main (NYSE:CNM) Given New $60.00 Price Target at The Goldman Sachs Group

Core & Main (NYSE:CNM) had its target price reduced by The Goldman Sachs Group from $68.00 to $60.00 in a research note released on Friday,Benzinga reports. They currently have a neutral rating on the stock.

Several other equities analysts have also weighed in on the company. Loop Capital restated a “hold” rating and issued a $68.00 price target on shares of Core & Main in a research note on Monday, July 28th. Wells Fargo & Company cut their price objective on Core & Main from $70.00 to $58.00 and set an “overweight” rating for the company in a research note on Wednesday. Citigroup cut their price objective on Core & Main from $62.00 to $54.00 and set a “neutral” rating for the company in a research note on Wednesday. Royal Bank Of Canada cut their price objective on Core & Main from $67.00 to $62.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Truist Financial cut their price objective on Core & Main from $56.00 to $50.00 and set a “hold” rating for the company in a research note on Thursday. 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, Core & Main has an average rating of “Moderate Buy” and an average target price of $59.60.

Core & Main Price Performance

Shares of Core & Main stock opened at $48.76 on Friday. The company has a quick ratio of 1.10, a current ratio of 2.25 and a debt-to-equity ratio of 1.14. Core & Main has a twelve month low of $39.86 and a twelve month high of $67.18. The business has a 50-day moving average price of $62.85 and a 200 day moving average price of $56.02. The firm has a market cap of $9.61 billion, a PE ratio of 21.77, a P/E/G ratio of 1.88 and a beta of 1.04.

Core & Main (NYSE:CNM) last announced its quarterly earnings results on Tuesday, September 9th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $2.12 billion. During the same quarter in the previous year, the business earned $0.61 EPS. Core & Main’s revenue for the quarter was up 6.6% compared to the same quarter last year. Core & Main has set its FY 2025 guidance at EPS. Sell-side analysts predict that Core & Main will post 2.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Robyn L. Bradbury sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $64.51, for a total value of $322,550.00. Following the completion of the sale, the chief financial officer directly owned 8,555 shares in the company, valued at $551,883.05. This represents a 36.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Orvin T. Kimbrough sold 23,962 shares of the company’s stock in a transaction that occurred 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 $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. Insiders own 3.53% of the company’s stock.

Institutional Investors Weigh In On Core & Main

A number of large investors have recently made changes to their positions in the stock. Squarepoint Ops LLC purchased a new stake in shares of Core & Main in the second quarter valued at approximately $3,600,000. Thrivent Financial for Lutherans grew its position in shares of 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 purchasing an additional 62,096 shares in the last quarter. State of Wyoming acquired a new position in Core & Main in the second quarter valued at approximately $190,000. Captrust Financial Advisors lifted its holdings 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 acquiring an additional 2,509 shares during the last quarter. Finally, Tidal Investments LLC lifted its holdings 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 acquiring an additional 4,151 shares during the last quarter. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

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.