Core & Main (NYSE:CNM) Price Target Cut to $58.00 by Analysts at Wells Fargo & Company

Core & Main (NYSE:CNM) had its target price trimmed by Wells Fargo & Company from $70.00 to $58.00 in a report published on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms have also weighed in on CNM. Citigroup upped their price objective on shares of Core & Main from $56.00 to $62.00 and gave the company a “neutral” rating in a research note on Tuesday, June 10th. Barclays cut their price objective on Core & Main from $69.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday. JPMorgan Chase & Co. boosted their target price on Core & Main from $56.00 to $64.00 and gave the company an “overweight” rating in a research note on Thursday, September 4th. Loop Capital reaffirmed a “hold” rating and set a $68.00 price target on shares of Core & Main in a research note on Monday, July 28th. Finally, Royal Bank Of Canada reduced their price target on Core & Main from $67.00 to $62.00 and set an “outperform” rating for the company in a report on Wednesday. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.60.

Core & Main Stock Down 1.4%

Shares of Core & Main stock opened at $48.76 on Wednesday. Core & Main has a 1 year low of $39.86 and a 1 year high of $67.18. The company has a market cap of $9.61 billion, a P/E ratio of 21.77, a P/E/G ratio of 1.88 and a beta of 1.04. The company has a current ratio of 2.25, a quick ratio of 1.10 and a debt-to-equity ratio of 1.14. The stock has a 50-day moving average price of $62.85 and a 200 day moving average price of $56.02.

Core & Main (NYSE:CNM) last released its 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. The company had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.12 billion. Core & Main had a return on equity of 25.44% and a net margin of 5.57%.The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.61 EPS. Core & Main has set its FY 2025 guidance at EPS. As a group, analysts expect that Core & Main will post 2.16 EPS for the current fiscal year.

Insider Buying and Selling at Core & Main

In related news, insider Stephen O. Leclair sold 80,028 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider directly owned 70,736 shares of the company’s stock, valued at approximately $4,404,730.72. This trade represents a 53.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Orvin T. Kimbrough sold 23,962 shares of the business’s stock in a transaction that occurred on Friday, July 18th. The stock was 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. Insiders have sold a total of 422,956 shares of company stock worth $26,343,241 in the last 90 days. Company insiders own 3.53% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Enhancing Capital LLC lifted its position in Core & Main by 0.6% during the 1st quarter. Enhancing Capital LLC now owns 31,846 shares of the company’s stock worth $1,538,000 after acquiring an additional 196 shares during the last quarter. Bfsg LLC increased its stake in shares of Core & Main by 56.4% in the second quarter. Bfsg LLC now owns 560 shares of the company’s stock worth $34,000 after purchasing an additional 202 shares during the period. CWM LLC lifted its position in shares of Core & Main by 34.0% during the 1st quarter. CWM LLC now owns 839 shares of the company’s stock worth $41,000 after purchasing an additional 213 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in Core & Main by 3.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,106 shares of the company’s stock valued at $343,000 after purchasing an additional 229 shares during the period. Finally, EverSource Wealth Advisors LLC grew 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 buying an additional 269 shares during the last quarter. 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.