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

Core & Main (NYSE:CNM - Get Free Report) had its price target cut by JPMorgan Chase & Co. from $54.00 to $52.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target would indicate a potential upside of 11.09% from the stock's current price.

Other analysts have also recently issued research reports about the stock. Truist Financial lowered their price objective 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. Royal Bank of Canada restated an "outperform" rating and issued a $60.00 target price on shares of Core & Main in a research report on Wednesday, June 5th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Core & Main currently has a consensus rating of "Moderate Buy" and an average target price of $52.70.

Core & Main Price Performance

NYSE:CNM traded down $1.22 during trading hours on Tuesday, hitting $46.81. 3,215,516 shares of the company's stock traded hands, compared to its average volume of 2,453,653. The firm has a market cap of $9.43 billion, a P/E ratio of 21.87, a P/E/G ratio of 1.82 and a beta of 1.06. The company has a quick ratio of 1.23, a current ratio of 2.14 and a debt-to-equity ratio of 1.46. The business's fifty day simple moving average is $50.35 and its two-hundred day simple moving average is $52.82. Core & Main has a 52 week low of $27.75 and a 52 week high of $62.15.

Core & Main (NYSE:CNM - Get Free Report) last issued its quarterly earnings data on Tuesday, June 4th. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.02). Core & Main had a return on equity of 20.01% and a net margin of 5.53%. The business had revenue of $1.74 billion for the quarter, compared to analysts' expectations of $1.72 billion. During the same period in the previous year, the firm posted $0.50 EPS. The firm's revenue for the quarter was up 10.6% compared to the same quarter last year. On average, research analysts anticipate that Core & Main will post 2.32 earnings per share for the current fiscal year.

Insider Activity at Core & Main

In other Core & Main news, Director James G. Castellano sold 12,500 shares of the company's stock in a transaction on Monday, July 15th. The shares were sold at an average price of $52.22, for a total value of $652,750.00. Following the completion of the transaction, the director now directly owns 11,769 shares in the company, valued at approximately $614,577.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.49% of the stock is owned by company insiders.

Institutional Trading of Core & Main

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Core & Main by 3.6% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 54,800 shares of the company's stock worth $2,682,000 after buying an additional 1,900 shares in the last quarter. Truist Financial Corp lifted its stake in shares of Core & Main by 1,103.3% in the 2nd quarter. Truist Financial Corp now owns 495,199 shares of the company's stock worth $24,235,000 after purchasing an additional 454,046 shares during the period. Fiera Capital Corp boosted its holdings in shares of Core & Main by 7.9% in the second quarter. Fiera Capital Corp now owns 162,250 shares of the company's stock worth $7,941,000 after buying an additional 11,904 shares during the last quarter. Algert Global LLC grew its position in Core & Main by 12.4% during the second quarter. Algert Global LLC now owns 176,875 shares of the company's stock valued at $8,656,000 after buying an additional 19,443 shares during the period. Finally, Select Equity Group L.P. increased its holdings in Core & Main by 0.3% during the second quarter. Select Equity Group L.P. now owns 15,426,777 shares of the company's stock valued at $754,986,000 after buying an additional 39,475 shares during the last quarter. Hedge funds and other institutional investors own 94.19% of the company's stock.

Core & Main Company Profile

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.