Core & Main (NYSE:CNM) Given New $64.00 Price Target at JPMorgan Chase & Co.

Core & Main (NYSE:CNM) had its price objective hoisted by JPMorgan Chase & Co. from $56.00 to $64.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential downside of 4.33% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Wells Fargo & Company raised their price target on shares of Core & Main from $65.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, July 8th. Citigroup increased their price target on Core & Main from $56.00 to $62.00 and gave the company a “neutral” rating in a research report on Tuesday, June 10th. Loop Capital reaffirmed a “hold” rating and issued a $68.00 price target on shares of Core & Main in a research report on Monday, July 28th. Finally, Royal Bank Of Canada increased their price target on Core & Main from $60.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday, June 10th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Core & Main presently has an average rating of “Moderate Buy” and a consensus target price of $63.40.

Core & Main Stock Performance

NYSE:CNM opened at $66.90 on Thursday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.10 and a current ratio of 1.96. The stock has a market capitalization of $13.19 billion, a P/E ratio of 31.11, a PEG ratio of 1.94 and a beta of 1.04. The company has a 50 day moving average price of $63.75 and a 200 day moving average price of $55.97. Core & Main has a fifty-two week low of $37.22 and a fifty-two week high of $67.18.

Core & Main (NYSE:CNM) last issued its quarterly earnings results on Tuesday, June 10th. The company reported $0.52 EPS for the quarter, meeting the consensus estimate of $0.52. Core & Main had a net margin of 5.47% and a return on equity of 23.55%. The company had revenue of $1.91 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter last year, the company posted $0.49 EPS. The firm’s revenue was up 9.8% compared to the same quarter last year. Core & Main has set its FY 2025 guidance at EPS. Equities research analysts forecast that Core & Main will post 2.16 EPS for the current year.

Insider Buying and Selling at Core & Main

In related news, Director Orvin T. Kimbrough sold 23,962 shares of Core & Main stock in a transaction on Friday, July 18th. The shares were sold at an average price of $61.77, for a total transaction of $1,480,132.74. Following the sale, the director directly owned 13,958 shares in the company, valued at $862,185.66. This trade represents a 63.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen O. Leclair sold 44,972 shares of Core & Main stock in a transaction on Monday, July 7th. The stock was sold at an average price of $61.91, for a total transaction of $2,784,216.52. Following the sale, the insider owned 70,736 shares in the company, valued at $4,379,265.76. This represents a 38.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 472,056 shares of company stock worth $29,290,714. 3.53% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Core & Main

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC grew its stake in Core & Main by 145.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock worth $27,000 after buying an additional 269 shares during the last quarter. Parallel Advisors LLC grew its stake in Core & Main by 447.1% during the 1st quarter. Parallel Advisors LLC now owns 651 shares of the company’s stock worth $31,000 after buying an additional 532 shares during the last quarter. Bfsg LLC grew its stake in Core & Main by 56.4% during the 2nd quarter. Bfsg LLC now owns 560 shares of the company’s stock worth $34,000 after buying an additional 202 shares during the last quarter. Cubist Systematic Strategies LLC grew its stake in Core & Main by 262.0% during the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock worth $35,000 after buying an additional 524 shares during the last quarter. Finally, Rossby Financial LCC purchased a new position in Core & Main during the 1st quarter worth approximately $37,000. 94.19% of the stock is currently owned by institutional investors and hedge funds.

Core & Main Company Profile

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.