JPMorgan Chase & Co. Has Lowered Expectations for Core & Main (NYSE:CNM) Stock Price

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

Several other research analysts have also weighed in on the company. Citigroup upped their price target on Core & Main from $56.00 to $62.00 and gave the company a “neutral” rating in a research report on Tuesday, June 10th. Wells Fargo & Company lowered their target price on Core & Main from $70.00 to $58.00 and set an “overweight” rating on the stock in a research note on Wednesday. Loop Capital restated a “hold” rating and issued a $68.00 target price on shares of Core & Main in a research note on Monday, July 28th. Royal Bank Of Canada lowered their target price on Core & Main from $67.00 to $62.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Barclays lowered their target price on Core & Main from $69.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $59.60.

Core & Main Stock Down 1.4%

NYSE:CNM opened at $48.76 on Wednesday. The firm has a market capitalization of $9.61 billion, a price-to-earnings ratio of 21.77, a PEG ratio of 1.88 and a beta of 1.04. Core & Main has a 1-year low of $39.86 and a 1-year high of $67.18. 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 business’s fifty day moving average price is $62.85 and its 200 day moving average price is $56.02.

Core & Main (NYSE:CNM) last posted 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. The firm 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%.Core & Main’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.61 earnings per share. Core & Main has set its FY 2025 guidance at EPS. On average, sell-side analysts forecast that Core & Main will post 2.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Core & Main

In other news, insider Stephen O. Leclair sold 80,028 shares of the stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $62.27, for a total transaction of $4,983,343.56. Following the transaction, the insider owned 70,736 shares of the company’s stock, valued at approximately $4,404,730.72. This represents a 53.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Orvin T. Kimbrough sold 23,962 shares of the stock in a transaction dated 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 transaction, the director directly owned 13,958 shares in the company, valued at approximately $862,185.66. This represents a 63.19% decrease in their position. 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 Trading of Core & Main

Hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC boosted its stake in Core & Main by 145.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock valued at $27,000 after purchasing an additional 269 shares during the period. Parallel Advisors LLC boosted its stake in Core & Main by 447.1% during the 1st quarter. Parallel Advisors LLC now owns 651 shares of the company’s stock valued at $31,000 after purchasing an additional 532 shares during the period. Bfsg LLC boosted its stake in Core & Main by 56.4% during the 2nd quarter. Bfsg LLC now owns 560 shares of the company’s stock valued at $34,000 after purchasing an additional 202 shares during the period. Cubist Systematic Strategies LLC boosted its stake in Core & Main by 262.0% during the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock valued at $35,000 after purchasing an additional 524 shares during the period. Finally, Rossby Financial LCC bought a new stake in Core & Main during the 1st quarter valued at approximately $37,000. 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.