Barclays Lowers Core & Main (NYSE:CNM) Price Target to $65.00

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 - Get Free Report) had its target price dropped by investment analysts at Barclays from $69.00 to $65.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Barclays's target price would indicate a potential upside of 30.73% from the company's previous close.

CNM has been the subject of a number of other reports. Royal Bank Of Canada reduced their price objective on shares of Core & Main from $67.00 to $62.00 and set an "outperform" rating for the company in a research note on Wednesday. Wells Fargo & Company boosted their price objective on shares of Core & Main from $65.00 to $70.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Citigroup upped their target price 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. Loop Capital reiterated a "hold" rating and set a $68.00 target price on shares of Core & Main in a research note on Monday, July 28th. Finally, JPMorgan Chase & Co. upped their target price on shares of Core & Main from $56.00 to $64.00 and gave the company an "overweight" rating in a research note on Thursday, September 4th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Core & Main presently has a consensus rating of "Moderate Buy" and an average price target of $61.70.

Core & Main Price Performance

Shares of Core & Main stock opened at $49.72 on Wednesday. The firm has a fifty day simple moving average of $63.64 and a 200-day simple moving average of $56.08. The company has a current ratio of 1.96, a quick ratio of 1.10 and a debt-to-equity ratio of 1.23. Core & Main has a 1-year low of $37.22 and a 1-year high of $67.18. The stock has a market capitalization of $9.80 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 1.96 and a beta of 1.04.

Core & Main (NYSE:CNM - Get Free Report) last issued its quarterly earnings data on Tuesday, September 9th. The company reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.79 by $0.08. Core & Main had a net margin of 5.47% and a return on equity of 23.55%. The business had revenue of $2.09 billion during the quarter, compared to analysts' expectations of $2.12 billion. During the same period in the previous year, the company earned $0.61 earnings per share. Core & Main's revenue for the quarter was up 6.6% on a year-over-year basis. Core & Main has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Core & Main will post 2.16 earnings per share for the current year.

Insider Transactions at Core & Main

In other Core & Main news, CFO Robyn L. Bradbury sold 5,000 shares of the business's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $64.51, for a total value of $322,550.00. Following the sale, the chief financial officer owned 8,555 shares of the company's stock, valued at $551,883.05. The trade was a 36.89% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James G. Castellano sold 43,994 shares of the business's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $61.98, for a total transaction of $2,726,748.12. Following the completion of the sale, the director directly owned 4,638 shares in the company, valued at $287,463.24. This trade represents a 90.46% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 422,956 shares of company stock worth $26,343,241. 3.53% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Core & Main

Several institutional investors and hedge funds have recently bought and sold shares of the business. Squarepoint Ops LLC bought a new stake in Core & Main in the 2nd quarter valued at $3,600,000. Thrivent Financial for Lutherans increased its holdings in Core & Main by 42.4% in the 2nd quarter. Thrivent Financial for Lutherans now owns 208,499 shares of the company's stock valued at $12,583,000 after buying an additional 62,096 shares during the period. State of Wyoming bought a new stake in Core & Main in the 2nd quarter valued at $190,000. Captrust Financial Advisors grew its holdings in shares of Core & Main by 4.1% in the 2nd quarter. Captrust Financial Advisors now owns 63,227 shares of the company's stock worth $3,816,000 after purchasing an additional 2,509 shares during the last quarter. Finally, Tidal Investments LLC grew its holdings in shares of Core & Main by 39.7% in the 2nd quarter. Tidal Investments LLC now owns 14,610 shares of the company's stock worth $882,000 after purchasing an additional 4,151 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.