Core & Main (NYSE:CNM) Price Target Lowered to $52.00 at JPMorgan Chase & Co.

Core & Main (NYSE:CNM) had its target price lowered by JPMorgan Chase & Co. from $54.00 to $52.00 in a report issued on Tuesday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

CNM has been the subject of several other research reports. Truist Financial dropped their price objective on Core & Main from $56.00 to $50.00 and set a hold rating for the company in a report on Wednesday, June 5th. Royal Bank of Canada restated an outperform rating and issued a $60.00 price objective on shares of Core & Main in a report on Wednesday, June 5th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Core & Main presently has an average rating of Moderate Buy and a consensus price target of $52.70.

Core & Main Trading Down 2.5 %

NYSE CNM opened at $46.81 on Tuesday. The company has a quick ratio of 1.23, a current ratio of 2.14 and a debt-to-equity ratio of 1.46. The stock’s 50-day simple moving average is $50.29 and its two-hundred day simple moving average is $52.83. Core & Main has a twelve month low of $27.75 and a twelve month high of $62.15. The company has a market capitalization of $9.43 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 1.82 and a beta of 1.06.

Core & Main (NYSE:CNM) last issued its earnings results on Tuesday, June 4th. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.02). The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Core & Main had a return on equity of 20.01% and a net margin of 5.53%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.50 earnings per share. Research analysts forecast that Core & Main will post 2.32 EPS for the current fiscal year.

Insider Activity at Core & Main

In other news, Director James G. Castellano sold 12,500 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $52.22, for a total transaction of $652,750.00. Following the transaction, the director now directly owns 11,769 shares of the company’s stock, valued at $614,577.18. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.49% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CNM. Teachers Retirement System of The State of Kentucky increased its position in Core & Main by 3.6% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 54,800 shares of the company’s stock worth $2,682,000 after buying an additional 1,900 shares in the last quarter. Truist Financial Corp boosted its position in shares of Core & Main by 1,103.3% in the second quarter. Truist Financial Corp now owns 495,199 shares of the company’s stock worth $24,235,000 after purchasing an additional 454,046 shares during the period. Fiera Capital Corp increased its stake in shares of Core & Main by 7.9% in the second quarter. Fiera Capital Corp now owns 162,250 shares of the company’s stock worth $7,941,000 after purchasing an additional 11,904 shares in the last quarter. Algert Global LLC raised its position in shares of Core & Main by 12.4% during the 2nd quarter. Algert Global LLC now owns 176,875 shares of the company’s stock valued at $8,656,000 after purchasing an additional 19,443 shares during the period. Finally, Select Equity Group L.P. lifted its stake in shares of Core & Main by 0.3% during the 2nd quarter. Select Equity Group L.P. now owns 15,426,777 shares of the company’s stock valued at $754,986,000 after buying an additional 39,475 shares in the last quarter. 94.19% of the stock is owned by hedge funds and other institutional investors.

Core & Main Company Profile

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.