Core & Main (NYSE:CNM) Downgraded by Zacks Research to “Strong Sell”

Zacks Research cut shares of Core & Main (NYSE:CNM) from a hold rating to a strong sell rating in a report published on Monday,Zacks.com reports.

Several other brokerages also recently weighed in on CNM. UBS Group assumed coverage on Core & Main in a research report on Monday. They set a “buy” rating and a $65.00 price target on the stock. Truist Financial lowered their target price on Core & Main from $56.00 to $50.00 and set a “hold” rating on the stock in a research note on Thursday, September 11th. JPMorgan Chase & Co. dropped their target price on Core & Main from $64.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday, September 10th. Loop Capital reissued a “hold” rating and issued a $68.00 price target on shares of Core & Main in a report on Monday, July 28th. Finally, Barclays lowered their price objective on Core & Main from $69.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 10th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Core & Main has an average rating of “Moderate Buy” and a consensus price target of $60.09.

Core & Main Stock Performance

CNM opened at $53.85 on Monday. The company has a current ratio of 2.25, a quick ratio of 1.30 and a debt-to-equity ratio of 1.14. Core & Main has a 12-month low of $41.60 and a 12-month high of $67.18. The firm has a 50 day moving average of $60.22 and a two-hundred day moving average of $56.30. The firm has a market capitalization of $10.63 billion, a PE ratio of 24.04, a P/E/G ratio of 2.10 and a beta of 1.04.

Core & Main (NYSE:CNM) last released its quarterly earnings data on Tuesday, September 9th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.08. Core & Main had a net margin of 5.57% and a return on equity of 25.44%. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.12 billion. During the same quarter in the prior year, the business earned $0.61 earnings per share. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. Core & Main has set its FY 2025 guidance at EPS. On average, analysts anticipate that Core & Main will post 2.16 EPS for the current year.

Insider Activity at Core & Main

In other news, Director James G. Castellano sold 43,994 shares of the business’s stock in a transaction that occurred on Friday, July 18th. The stock was 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 directly owned 4,638 shares in the company, valued at $287,463.24. The trade was a 90.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Orvin T. Kimbrough sold 23,962 shares of the stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $61.77, for a total value of $1,480,132.74. Following the transaction, the director owned 13,958 shares in the company, valued at $862,185.66. This trade represents a 63.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 397,956 shares of company stock valued at $24,830,991 in the last ninety days. 3.53% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Core & Main

A number of large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its holdings in Core & Main by 0.5% during the second quarter. Geode Capital Management LLC now owns 3,472,477 shares of the company’s stock valued at $209,597,000 after purchasing an additional 18,874 shares in the last quarter. Bessemer Group Inc. lifted its stake in Core & Main by 0.4% in the 2nd quarter. Bessemer Group Inc. now owns 3,371,475 shares of the company’s stock valued at $203,467,000 after buying an additional 14,244 shares in the last quarter. Amundi boosted its holdings in Core & Main by 2.8% in the 2nd quarter. Amundi now owns 3,357,973 shares of the company’s stock worth $186,955,000 after buying an additional 92,355 shares during the last quarter. Fiduciary Management Inc. WI increased its stake in Core & Main by 0.3% during the 1st quarter. Fiduciary Management Inc. WI now owns 2,841,734 shares of the company’s stock worth $137,284,000 after buying an additional 8,052 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its stake in Core & Main by 14.2% during the 2nd quarter. Handelsbanken Fonder AB now owns 2,823,433 shares of the company’s stock worth $170,394,000 after buying an additional 351,219 shares in the last quarter. 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.