Core & Main (NYSE:CNM) Price Target Lowered to $52.00 at JPMorgan Chase & Co.

Core & Main (NYSE:CNM) had its price target lowered by JPMorgan Chase & Co. from $54.00 to $52.00 in a research report sent to investors on Tuesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other research analysts have also recently weighed in on the stock. Royal Bank of Canada reissued an outperform rating and set a $60.00 price objective on shares of Core & Main in a research note on Wednesday, June 5th. Truist Financial decreased their target price on shares of Core & Main from $56.00 to $50.00 and set a hold rating on the stock in a research report on Wednesday, June 5th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $47.82.

Core & Main Trading Up 0.1 %

Shares of Core & Main stock opened at $38.02 on Tuesday. Core & Main has a 12-month low of $27.75 and a 12-month high of $62.15. The company has a current ratio of 2.14, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46. The stock has a market cap of $7.66 billion, a PE ratio of 17.77, a price-to-earnings-growth ratio of 1.82 and a beta of 1.04. The company has a 50-day moving average of $49.66 and a two-hundred day moving average of $52.59.

Core & Main (NYSE:CNM) last issued its earnings results on Wednesday, September 4th. The company reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.13). Core & Main had a net margin of 5.53% and a return on equity of 20.01%. The company had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same period last year, the business posted $0.66 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. On average, research analysts anticipate that Core & Main will post 2.32 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director James G. Castellano sold 12,500 shares of the business’s 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 $614,577.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.49% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNM. Truist Financial Corp boosted its holdings in shares of Core & Main by 137.0% during the 4th quarter. Truist Financial Corp now owns 31,347 shares of the company’s stock worth $1,267,000 after buying an additional 18,120 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Core & Main by 300.1% during the 4th quarter. Russell Investments Group Ltd. now owns 94,155 shares of the company’s stock worth $3,813,000 after buying an additional 70,621 shares during the period. Swiss National Bank boosted its holdings in shares of Core & Main by 5.8% during the 4th quarter. Swiss National Bank now owns 261,500 shares of the company’s stock worth $10,567,000 after buying an additional 14,400 shares during the period. Natixis Advisors L.P. boosted its holdings in shares of Core & Main by 10.0% during the 4th quarter. Natixis Advisors L.P. now owns 346,424 shares of the company’s stock worth $13,997,000 after buying an additional 31,578 shares during the period. Finally, Amalgamated Bank boosted its holdings in shares of Core & Main by 427.2% during the 4th quarter. Amalgamated Bank now owns 103,003 shares of the company’s stock worth $4,162,000 after buying an additional 83,465 shares during the period. 94.19% of the stock is owned by hedge funds and other institutional investors.

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.