Citigroup Cuts Core & Main (NYSE:CNM) Price Target to $53.00

Key Points

• Citigroup cut its price target on Core & Main from $54 to $53 while keeping a neutral rating, implying about 7.6% upside from the current share price.
• Other analysts have also trimmed targets recently, though sentiment remains mixed: Core & Main still has a Moderate Buy consensus with an average target price of $61.
• The company recently beat quarterly estimates with EPS of $0.72 and revenue of $1.91 billion, and it also reaffirmed FY2026 guidance calling for $7.8 billion-$7.9 billion in revenue.

Core & Main (NYSE:CNM - Get Free Report) had its price objective reduced by equities researchers at Citigroup from $54.00 to $53.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Citigroup's price objective points to a potential upside of 7.59% from the stock's current price.

Several other brokerages also recently commented on CNM. Deutsche Bank Aktiengesellschaft dropped their target price on Core & Main from $65.00 to $62.00 and set a "buy" rating on the stock in a report on Wednesday, March 25th. Barclays dropped their target price on Core & Main from $63.00 to $62.00 and set an "overweight" rating on the stock in a report on Wednesday, March 25th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $61.00.

Core & Main Stock Down 0.4%

Shares of NYSE:CNM traded down $0.18 during mid-day trading on Thursday, hitting $49.26. 449,426 shares of the company traded hands, compared to its average volume of 2,333,538. The firm has a market cap of $9.59 billion, a P/E ratio of 21.30, a PEG ratio of 1.89 and a beta of 0.91. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.51 and a current ratio of 2.63. Core & Main has a 52-week low of $43.96 and a 52-week high of $67.18. The firm's 50 day simple moving average is $49.84 and its 200 day simple moving average is $52.08.

Core & Main (NYSE:CNM - Get Free Report) last announced its earnings results on Wednesday, June 10th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.53 by $0.19. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. Core & Main had a return on equity of 25.45% and a net margin of 5.77%.The company's revenue was down .1% on a year-over-year basis. During the same period last year, the business posted $0.52 EPS. On average, equities analysts anticipate that Core & Main will post 3.06 EPS for the current year.

Insider Activity at Core & Main

In other Core & Main news, CFO Robyn L. Bradbury sold 5,000 shares of Core & Main stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $52.54, for a total transaction of $262,700.00. Following the sale, the chief financial officer directly owned 12,500 shares in the company, valued at $656,750. The trade was a 28.57% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Hope acquired 1,972 shares of the company's stock in a transaction on Tuesday, April 7th. The shares were acquired at an average price of $50.70 per share, for a total transaction of $99,980.40. Following the completion of the acquisition, the director directly owned 6,939 shares in the company, valued at $351,807.30. The trade was a 39.70% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 1.51% of the stock is owned by insiders.

Institutional Investors Weigh In On Core & Main

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Morgan Stanley increased its holdings in Core & Main by 8.3% during the 4th quarter. Morgan Stanley now owns 14,586,859 shares of the company's stock worth $758,079,000 after purchasing an additional 1,118,145 shares during the last quarter. Capital World Investors increased its holdings in shares of Core & Main by 5.8% in the 4th quarter. Capital World Investors now owns 6,292,740 shares of the company's stock valued at $327,034,000 after acquiring an additional 344,606 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Core & Main by 15.3% in the 1st quarter. First Trust Advisors LP now owns 6,130,840 shares of the company's stock valued at $302,863,000 after acquiring an additional 812,770 shares during the last quarter. State Street Corp increased its holdings in shares of Core & Main by 1.0% in the 4th quarter. State Street Corp now owns 5,733,516 shares of the company's stock valued at $297,971,000 after acquiring an additional 54,562 shares during the last quarter. Finally, Royal London Asset Management Ltd. increased its holdings in shares of Core & Main by 12.5% in the 4th quarter. Royal London Asset Management Ltd. now owns 5,688,595 shares of the company's stock valued at $295,636,000 after acquiring an additional 632,077 shares during the last quarter. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Core & Main

Here are the key news stories impacting Core & Main this week:

• Positive Sentiment: Core & Main reported Q1 EPS of $0.72, topping estimates, and revenue of $1.91 billion, also slightly ahead of Wall Street expectations. Core & Main Announces Fiscal 2026 First Quarter Results
• Positive Sentiment: Management highlighted strength in municipal water work, margin gains, and reaffirmed FY26 guidance, suggesting the business is holding up well despite a weaker residential backdrop. CNM Q1 Earnings Call Highlights Municipal Strength, Margin Gains
• Neutral Sentiment: Several earnings-call recaps and transcripts were published, but they appear to be commentary around the same results rather than new market-moving information. Core & Main's Drop Doesn't Offer An Entry Point
• Neutral Sentiment: The company also guided FY2026 revenue to $7.8 billion-$7.9 billion, slightly above consensus, reinforcing expectations for continued growth. Core & Main earnings report and transcript

About Core & Main

Core & Main, Inc NYSE: CNM is a leading distributor of water, sewer, storm drainage and fire protection products across North America. The company's product portfolio includes valves, hydrants, pipe and fittings, meters, couplings and other essential components that support municipal, industrial and environmental infrastructure projects. By combining a comprehensive inventory with logistics and technical support, Core & Main helps customers address complex water system and distribution challenges.

With more than 300 branch locations and over 3,500 employees, Core & Main serves a diverse customer base that includes municipalities, contractors, engineers and utility providers.

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