Truist Financial Lowers Core & Main (NYSE:CNM) Price Target to $45.00

by · The Markets Daily

Core & Main (NYSE:CNM – Get Free Report) had its price objective cut by stock analysts at Truist Financial from $50.00 to $45.00 in a report released on Thursday, Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s price objective suggests a potential upside of 8.85% from the stock’s current price.

A number of other brokerages also recently weighed in on CNM. Barclays lowered their target price on Core & Main from $62.00 to $61.00 and set an “overweight” rating for the company in a report on Thursday. Robert W. Baird reduced their price objective on shares of Core & Main from $66.00 to $57.00 and set an “outperform” rating for the company in a research report on Thursday. William Blair initiated coverage on shares of Core & Main in a research note on Thursday, July 23rd. They issued a “market perform” rating for the company. Wells Fargo & Company reiterated an “overweight” rating and set a $48.00 target price on shares of Core & Main in a research report on Thursday. Finally, Northcoast Research lowered shares of Core & Main from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 26th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold 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 $55.60.

View Our Latest Stock Analysis on Core & Main

Core & Main Trading Down 0.6%

Core & Main stock traded down $0.26 during trading hours on Thursday, reaching $41.34. 1,789,810 shares of the company’s stock were exchanged, compared to its average volume of 2,354,398. The company has a quick ratio of 1.31, a current ratio of 2.31 and a debt-to-equity ratio of 1.00. The firm’s 50 day simple moving average is $44.65 and its 200 day simple moving average is $47.99. Core & Main has a twelve month low of $40.76 and a twelve month high of $59.66. The firm has a market capitalization of $8.00 billion, a PE ratio of 17.54, a PEG ratio of 1.52 and a beta of 0.91.

Core & Main (NYSE:CNM – Get Free Report) last posted its quarterly earnings data on Wednesday, September 9th. The company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.03. The firm had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.14 billion. Core & Main had a return on equity of 26.17% and a net margin of 5.87%.The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the company posted $0.87 EPS. Research analysts predict that Core & Main will post 3.08 earnings per share for the current year.

Insider Activity at Core & Main

In other news, Director James Hope acquired 2,067 shares of the firm’s stock in a transaction dated Monday, July 6th. The stock was purchased at an average price of $46.01 per share, for a total transaction of $95,102.67. Following the completion of the acquisition, the director directly owned 11,805 shares in the company, valued at $543,148.05. The trade was a 21.23% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 1.51% of the stock is currently owned by corporate insiders.

Institutional Trading of Core & Main

Several hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System raised its holdings in Core & Main by 4,688.8% during the second quarter. California State Teachers Retirement System now owns 10,532,203 shares of the company’s stock worth $508,179,000 after buying an additional 10,312,269 shares during the last quarter. Norges Bank acquired a new position in shares of Core & Main during the fourth quarter valued at about $108,265,000. First Trust Advisors LP grew its holdings in shares of Core & Main by 38.6% during the fourth quarter. First Trust Advisors LP now owns 5,318,070 shares of the company’s stock valued at $276,380,000 after buying an additional 1,482,235 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new stake in shares of Core & Main during the third quarter worth about $67,284,000. Finally, Morgan Stanley increased its position in shares of Core & Main by 8.3% during the fourth quarter. Morgan Stanley now owns 14,586,859 shares of the company’s stock worth $758,079,000 after acquiring an additional 1,118,145 shares in the last quarter. Institutional investors and hedge funds own 94.19% of the company’s stock.

Core & Main News Roundup

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

  • Positive Sentiment: Core & Main reported adjusted earnings of $0.94 per share, above the roughly $0.91–$0.93 analyst consensus, while revenue rose 2.5% year over year to $2.15 billion, slightly exceeding expectations. Core & Main Q2 Earnings and Revenues Surpass Estimates
  • Positive Sentiment: Management reaffirmed fiscal 2026 revenue guidance of $7.8 billion to $7.9 billion, above the approximately $7.7 billion consensus estimate, and continues to emphasize growth through acquisitions and strategic expansion. Fire-protection products and acquisitions were key growth drivers. Core & Main’s Drop Is A Great Chance To Dive In
  • Positive Sentiment: Robert W. Baird lowered its price target to $57 from $66 but maintained an “outperform” rating, implying substantial upside from recent trading levels. Core & Main Price Target Update
  • Neutral Sentiment: Brokerages collectively maintain a “Moderate Buy” rating, indicating that analysts remain broadly constructive but are becoming more cautious following the earnings report. Core & Main Given Consensus Rating
  • Negative Sentiment: Truist cut its price target to $45 from $50 and retained a “Hold” rating. Other analysts also reduced forecasts after the quarter, reflecting concerns that modest revenue growth and weakness in smart utility and storm-drainage products could limit near-term earnings momentum. Truist Cuts Price Target on Core & Main

Core & Main Company Profile

(Get Free Report)

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.

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