Core & Main (NYSE:CNM) Given New $54.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has lowered the price target for Core & Main from $64.00 to $54.00, maintaining an "overweight" rating.
• Various analysts have adjusted their price targets for Core & Main, with Barclays and Royal Bank of Canada setting new targets at $65.00 and $62.00, respectively.
• Core & Main's stock recently traded at $50.58, reflecting a potential upside of 6.76% based on the latest price target from JPMorgan.

Core & Main (NYSE:CNM - Get Free Report) had its price objective cut by stock analysts at JPMorgan Chase & Co. from $64.00 to $54.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 10.75% from the stock's current price.

A number of other brokerages have also weighed in on CNM. Loop Capital reaffirmed a "hold" rating and issued a $68.00 price target on shares of Core & Main in a research note on Monday, July 28th. Citigroup raised their target price on Core & Main from $56.00 to $62.00 and gave the company a "neutral" rating in a research note on Tuesday, June 10th. Royal Bank Of Canada cut their price target on shares of Core & Main from $67.00 to $62.00 and set an "outperform" rating for the company in a report on Wednesday. Barclays dropped their target price on shares of Core & Main from $69.00 to $65.00 and set an "overweight" rating on the stock in a report on Wednesday. Finally, Wells Fargo & Company dropped their price target on Core & Main from $70.00 to $58.00 and set an "overweight" rating on the stock in a report on Wednesday. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Core & Main has an average rating of "Moderate Buy" and a consensus target price of $59.60.

Core & Main Trading Down 1.4%

Shares of NYSE CNM traded down $0.69 during trading on Wednesday, hitting $48.76. 3,652,711 shares of the company traded hands, compared to its average volume of 2,968,833. The company has a 50-day moving average price of $62.85 and a 200-day moving average price of $56.05. Core & Main has a 1 year low of $39.86 and a 1 year high of $67.18. The company has a quick ratio of 1.10, a current ratio of 2.25 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $9.61 billion, a P/E ratio of 21.77, a P/E/G ratio of 1.88 and a beta of 1.04.

Core & Main (NYSE:CNM - Get Free Report) last announced its 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 return on equity of 25.44% and a net margin of 5.57%.The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.12 billion. During the same period last year, the firm earned $0.61 earnings per share. The company's revenue was up 6.6% on a year-over-year basis. Core & Main has set its FY 2025 guidance at EPS. On average, equities analysts predict that Core & Main will post 2.16 EPS for the current year.

Insider Buying and Selling at Core & Main

In other Core & Main news, Director James G. Castellano sold 43,994 shares of the stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $61.98, for a total value of $2,726,748.12. Following the completion of the sale, the director owned 4,638 shares in the company, valued at $287,463.24. This represents a 90.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Robyn L. Bradbury sold 5,000 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief financial officer directly owned 8,555 shares of the company's stock, valued at approximately $551,883.05. The trade was a 36.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 422,956 shares of company stock valued at $26,343,241 in the last 90 days. Corporate insiders own 3.53% of the company's stock.

Hedge Funds Weigh In On Core & Main

A number of hedge funds have recently modified their holdings of CNM. Squarepoint Ops LLC acquired a new stake in Core & Main in the 2nd quarter valued at $3,600,000. Thrivent Financial for Lutherans boosted its position in Core & Main by 42.4% in the second 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 in the last quarter. State of Wyoming acquired a new stake in shares of Core & Main during the second quarter worth approximately $190,000. Captrust Financial Advisors raised its stake in shares of Core & Main by 4.1% in the second quarter. Captrust Financial Advisors now owns 63,227 shares of the company's stock valued at $3,816,000 after acquiring an additional 2,509 shares during the last quarter. Finally, Tidal Investments LLC grew its position in Core & Main by 39.7% during the 2nd quarter. Tidal Investments LLC now owns 14,610 shares of the company's stock worth $882,000 after acquiring an additional 4,151 shares during the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.

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.