Core & Main (NYSE:CNM) Given New $65.00 Price Target at Barclays

Key Points

• Barclays has lowered the price target for Core & Main (NYSE:CNM) from $69.00 to $65.00, while maintaining an "overweight" rating on the stock, suggesting a potential upside of 30.73% based on the previous close.
• Core & Main reported earnings of $0.87 per share in its latest quarterly data, exceeding analysts' expectations by $0.08, with a year-over-year revenue growth of 6.6%.
• Recent analyst ratings vary, with Royal Bank of Canada setting a new price target of $62.00, while Wells Fargo increased their target to $70.00, reflecting mixed sentiments among investment firms.

Core & Main (NYSE:CNM - Free Report) had its price objective reduced by Barclays from $69.00 to $65.00 in a report issued on Wednesday,Benzinga reports. Barclays currently has an overweight rating on the stock.

CNM has been the topic of a number of other reports. Citigroup lifted their price objective on shares of Core & Main from $56.00 to $62.00 and gave the stock a "neutral" rating in a report on Tuesday, June 10th. Loop Capital reissued a "hold" rating and set a $68.00 target price on shares of Core & Main in a research report on Monday, July 28th. Wells Fargo & Company upped their target price on Core & Main from $65.00 to $70.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Royal Bank Of Canada dropped their price target on Core & Main from $67.00 to $62.00 and set an "outperform" rating on the stock in a report on Wednesday, September 10th. Finally, JPMorgan Chase & Co. boosted their price objective on Core & Main from $56.00 to $64.00 and gave the stock an "overweight" rating in a research report on Thursday, September 4th. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $59.60.

Core & Main Stock Up 2.0%

Shares of NYSE CNM traded up $0.98 during mid-day trading on Wednesday, reaching $49.65. 1,833,211 shares of the company's stock traded hands, compared to its average volume of 2,112,137. The company has a debt-to-equity ratio of 1.14, a current ratio of 2.25 and a quick ratio of 1.30. The business has a 50-day simple moving average of $62.85 and a 200 day simple moving average of $56.09. The stock has a market cap of $9.79 billion, a P/E ratio of 22.16, a PEG ratio of 1.91 and a beta of 1.04. Core & Main has a 1-year low of $40.42 and a 1-year high of $67.18.

Core & Main (NYSE:CNM - Get Free Report) 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 net margin of 5.57% and a return on equity of 25.44%. The business had revenue of $2.09 billion for the quarter, compared to analysts' expectations of $2.12 billion. During the same quarter last year, the firm earned $0.61 EPS. The firm'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. On average, analysts expect that Core & Main will post 2.16 EPS for the current fiscal year.

Insider Buying and Selling

In other Core & Main news, insider Stephen O. Leclair sold 80,028 shares of the firm's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $62.27, for a total value of $4,983,343.56. Following the completion of the transaction, the insider directly owned 70,736 shares of the company's stock, valued at $4,404,730.72. This trade represents a 53.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director James G. Castellano sold 43,994 shares of the company's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $61.98, for a total transaction of $2,726,748.12. Following the completion of the transaction, the director directly owned 4,638 shares in the company, valued at approximately $287,463.24. The trade was a 90.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold 422,956 shares of company stock valued at $26,343,241 in the last three months. Insiders own 3.53% of the company's stock.

Hedge Funds Weigh In On Core & Main

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Enhancing Capital LLC raised its holdings in shares of Core & Main by 0.6% in the 1st quarter. Enhancing Capital LLC now owns 31,846 shares of the company's stock valued at $1,538,000 after acquiring an additional 196 shares in the last quarter. Bfsg LLC increased its position 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 last quarter. CWM LLC raised its stake in Core & Main by 34.0% in the first quarter. CWM LLC now owns 839 shares of the company's stock valued at $41,000 after purchasing an additional 213 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in Core & Main by 3.3% in the first 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 in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Core & Main by 145.4% during the second 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 last quarter. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Core & Main Company Profile

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.