Core & Main (NYSE:CNM) PT Lowered to $52.00

Core & Main (NYSE:CNM) had its price target reduced by research analysts at JPMorgan Chase & Co. from $54.00 to $52.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 32.01% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Truist Financial lowered their price target on shares of Core & Main from $56.00 to $50.00 and set a “hold” rating on the stock in a report on Wednesday, June 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $60.00 price target on shares of Core & Main in a report on Wednesday, June 5th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $52.70.

Core & Main Trading Down 15.8 %

Shares of NYSE:CNM opened at $39.39 on Tuesday. Core & Main has a 52-week low of $27.75 and a 52-week high of $62.15. The company has a market capitalization of $7.94 billion, a P/E ratio of 18.41, a price-to-earnings-growth ratio of 1.82 and a beta of 1.06. The company has a 50-day simple moving average of $50.10 and a 200 day simple moving average of $52.74. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.23 and a current ratio of 2.14.

Core & Main (NYSE:CNM) last released its quarterly earnings results on Tuesday, June 4th. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.02). The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.72 billion. Core & Main had a net margin of 5.53% and a return on equity of 20.01%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.50 earnings per share. Sell-side analysts forecast that Core & Main will post 2.32 earnings per share for the current year.

Insider Transactions at Core & Main

In related news, Director James G. Castellano sold 12,500 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $52.22, for a total transaction of $652,750.00. Following the sale, the director now owns 11,769 shares in the company, valued at approximately $614,577.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.49% of the company’s stock.

Institutional Trading of Core & Main

Several large investors have recently made changes to their positions in the company. QRG Capital Management Inc. boosted its position in Core & Main by 1.9% in the second quarter. QRG Capital Management Inc. now owns 12,153 shares of the company’s stock valued at $595,000 after buying an additional 228 shares in the last quarter. United Services Automobile Association boosted its position in Core & Main by 2.0% in the second quarter. United Services Automobile Association now owns 13,307 shares of the company’s stock valued at $651,000 after buying an additional 266 shares in the last quarter. CWM LLC boosted its position in Core & Main by 25.6% in the second quarter. CWM LLC now owns 1,638 shares of the company’s stock valued at $80,000 after buying an additional 334 shares in the last quarter. Quadrant Capital Group LLC boosted its position in Core & Main by 74.5% in the fourth quarter. Quadrant Capital Group LLC now owns 855 shares of the company’s stock valued at $35,000 after buying an additional 365 shares in the last quarter. Finally, Lisanti Capital Growth LLC lifted its holdings in shares of Core & Main by 0.3% during the first quarter. Lisanti Capital Growth LLC now owns 157,865 shares of the company’s stock worth $9,038,000 after purchasing an additional 395 shares during the period. Institutional investors and hedge funds own 94.19% of the company’s stock.

About Core & Main

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.