Barclays Cuts Core & Main (NYSE:CNM) Price Target to $62.00

Core & Main (NYSE:CNM) had its price objective cut by stock analysts at Barclays from $63.00 to $62.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target points to a potential upside of 22.67% from the company’s current price.

Several other research analysts have also recently weighed in on the stock. Robert W. Baird upped their price target on shares of Core & Main from $62.00 to $64.00 and gave the stock an “outperform” rating in a report on Wednesday, December 10th. Zacks Research cut Core & Main from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 9th. Deutsche Bank Aktiengesellschaft lifted their price target on Core & Main from $63.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Royal Bank Of Canada reissued an “outperform” rating and set a $63.00 price objective on shares of Core & Main in a report on Friday, January 9th. Finally, Citigroup raised their target price on shares of Core & Main from $56.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, January 8th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $61.91.

Core & Main Stock Performance

NYSE CNM opened at $50.54 on Wednesday. The company has a quick ratio of 1.35, a current ratio of 2.26 and a debt-to-equity ratio of 1.04. The firm has a market cap of $9.88 billion, a P/E ratio of 22.39, a price-to-earnings-growth ratio of 1.90 and a beta of 0.98. Core & Main has a 12-month low of $43.17 and a 12-month high of $67.18. The company’s 50 day moving average is $54.26 and its 200-day moving average is $52.59.

Core & Main declared that its board has initiated a stock repurchase program on Tuesday, December 9th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Core & Main

Institutional investors have recently made changes to their positions in the stock. Deutsche Bank AG raised its stake in shares of Core & Main by 1.1% during the fourth quarter. Deutsche Bank AG now owns 17,859 shares of the company’s stock valued at $928,000 after acquiring an additional 190 shares during the last quarter. Modern Wealth Management LLC boosted its position in Core & Main by 5.8% in the third quarter. Modern Wealth Management LLC now owns 3,970 shares of the company’s stock worth $214,000 after purchasing an additional 218 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in shares of Core & Main by 13.8% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,959 shares of the company’s stock valued at $109,000 after purchasing an additional 237 shares during the last quarter. Johnson Investment Counsel Inc. grew its position in shares of Core & Main by 0.6% during the 3rd quarter. Johnson Investment Counsel Inc. now owns 43,070 shares of the company’s stock valued at $2,318,000 after acquiring an additional 244 shares during the period. Finally, Wedmont Private Capital lifted its position in shares of Core & Main by 5.6% during the 3rd quarter. Wedmont Private Capital now owns 4,733 shares of the company’s stock valued at $241,000 after buying an additional 251 shares in the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

More Core & Main News

Here are the key news stories impacting Core & Main this week:

• Positive Sentiment: Quarterly EPS beat consensus (reported $0.52 vs. $0.48 est.) and improved profitability metrics highlighted by management, which supports near‑term earnings momentum. Read More.
• Neutral Sentiment: Management reiterated guidance for revenue and EBITDA growth and emphasized growth categories (smart meters and water treatment) — smart meters expected to deliver double‑digit revenue gains, which is a multi‑quarter growth lever but not an immediate guarantee of outsized upside. Read More.
• Neutral Sentiment: Analyst coverage remains mixed: some commentary praises steady execution but argues the stock is fairly valued (supports a Hold rating), limiting near‑term analyst‑driven upside. Read More.
• Negative Sentiment: Revenue fell ~6.9% year‑over‑year and quarterly sales missed some analyst expectations; management’s weaker full‑year revenue outlook earlier this week triggered a selloff, which remains a near‑term headwind for the stock. Read More.
• Negative Sentiment: Company flags a new competitive risk: significant technology investments may be required to stay competitive, creating a balancing act between growth capex and margin preservation. This could pressure free cash flow or require higher spending over the medium term. Read More.

About Core & Main

Core & Main, Inc (NYSE:CNM) is a leading distributor of water, sewer, storm drainage and fire protection products across North America. The company’s product portfolio includes valves, hydrants, pipe and fittings, meters, couplings and other essential components that support municipal, industrial and environmental infrastructure projects. By combining a comprehensive inventory with logistics and technical support, Core & Main helps customers address complex water system and distribution challenges.

With more than 300 branch locations and over 3,500 employees, Core & Main serves a diverse customer base that includes municipalities, contractors, engineers and utility providers.