Analysts’ Recent Ratings Changes for Core & Main (CNM)

A number of research firms have changed their ratings and price targets for Core & Main (NYSE: CNM):

• 9/23/2024 – Core & Main is now covered by analysts at Wells Fargo & Company. They set an “overweight” rating and a $52.00 price target on the stock.
• 9/6/2024 – Core & Main had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $57.00 to $50.00. They now have a “neutral” rating on the stock.
• 9/5/2024 – Core & Main had its price target lowered by analysts at Bank of America Co. from $38.00 to $34.00. They now have an “underperform” rating on the stock.
• 9/5/2024 – Core & Main had its price target lowered by analysts at Barclays PLC from $65.00 to $57.00. They now have an “overweight” rating on the stock.
• 9/5/2024 – Core & Main had its price target lowered by analysts at Royal Bank of Canada from $60.00 to $53.00. They now have an “outperform” rating on the stock.
• 9/5/2024 – Core & Main had its price target lowered by analysts at Robert W. Baird from $62.00 to $53.00. They now have an “outperform” rating on the stock.
• 9/5/2024 – Core & Main had its price target lowered by analysts at Truist Financial Co. from $50.00 to $38.00. They now have a “hold” rating on the stock.
• 9/5/2024 – Core & Main had its price target lowered by analysts at Loop Capital from $64.00 to $52.00. They now have a “buy” rating on the stock.
• 9/3/2024 – Core & Main had its price target lowered by analysts at JPMorgan Chase & Co. from $54.00 to $52.00. They now have an “overweight” rating on the stock.

Core & Main Stock Performance

NYSE:CNM opened at $44.17 on Tuesday. The stock has a market cap of $8.90 billion, a P/E ratio of 20.64, a price-to-earnings-growth ratio of 2.52 and a beta of 1.04. The company has a current ratio of 2.29, a quick ratio of 1.34 and a debt-to-equity ratio of 1.40. The stock’s 50-day moving average is $47.88 and its 200-day moving average is $52.18. Core & Main, Inc. has a 1-year low of $27.98 and a 1-year high of $62.15.

Core & Main (NYSE:CNM) last posted its quarterly earnings data on Wednesday, September 4th. The company reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.13). The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.05 billion. Core & Main had a return on equity of 21.91% and a net margin of 5.58%. Core & Main’s revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 earnings per share. Equities research analysts anticipate that Core & Main, Inc. will post 2.1 earnings per share for the current year.

Insider Buying and Selling

In related news, Director James G. Castellano sold 12,500 shares of Core & Main stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $52.22, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.49% of the stock is owned by insiders.

Hedge Funds Weigh In On Core & Main

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Core & Main by 35.2% in the first quarter. Vanguard Group Inc. now owns 18,138,994 shares of the company’s stock valued at $1,038,457,000 after buying an additional 4,721,510 shares during the period. Select Equity Group L.P. lifted its stake in Core & Main by 0.3% in the second 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 during the period. Capital International Investors lifted its stake in Core & Main by 470.6% in the first quarter. Capital International Investors now owns 5,093,278 shares of the company’s stock valued at $291,590,000 after buying an additional 4,200,591 shares during the period. Pacer Advisors Inc. lifted its stake in Core & Main by 37.1% in the second quarter. Pacer Advisors Inc. now owns 4,208,698 shares of the company’s stock valued at $205,974,000 after buying an additional 1,137,817 shares during the period. Finally, Anomaly Capital Management LP lifted its stake in Core & Main by 35.9% in the second quarter. Anomaly Capital Management LP now owns 3,608,523 shares of the company’s stock valued at $176,601,000 after buying an additional 953,489 shares during the period. 94.19% of the stock is owned by institutional investors and hedge funds.

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.