Core & Main (NYSE:CNM – Get Free Report) had its price objective lowered by research analysts at Truist Financial from $50.00 to $45.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s target price would indicate a potential upside of 8.85% from the stock’s previous close.
CNM has been the topic of several other reports. Robert W. Baird decreased their target price on shares of Core & Main from $66.00 to $57.00 and set an “outperform” rating on the stock in a report on Thursday. Northcoast Research downgraded shares of Core & Main from a “buy” rating to a “neutral” rating in a report on Wednesday, August 26th. Barclays reduced their price target on shares of Core & Main from $62.00 to $61.00 and set an “overweight” rating on the stock in a research report on Thursday. The Goldman Sachs Group restated a “neutral” rating and set a $53.00 price objective on shares of Core & Main in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft set a $55.00 target price on Core & Main in a research note on Thursday. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.60.
View Our Latest Research Report on CNM
Core & Main Price Performance
Core & Main (NYSE:CNM – Get Free Report) last released its earnings results on Wednesday, September 9th. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.03. The company had revenue of $2.15 billion for 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%.Core & Main’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.87 EPS. As a group, analysts anticipate that Core & Main will post 3.08 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, Director James Hope bought 2,067 shares of the business’s stock in a transaction on Monday, July 6th. The shares were purchased at an average price of $46.01 per share, for a total transaction of $95,102.67. Following the completion of the transaction, the director directly owned 11,805 shares of the company’s stock, valued at approximately $543,148.05. This represents a 21.23% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 1.51% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of CNM. California State Teachers Retirement System increased its stake in shares of Core & Main by 4,688.8% in the second quarter. California State Teachers Retirement System now owns 10,532,203 shares of the company’s stock valued at $508,179,000 after buying an additional 10,312,269 shares during the period. Norges Bank acquired a new position in shares of Core & Main in the fourth quarter worth approximately $108,265,000. First Trust Advisors LP lifted its stake in shares of Core & Main by 38.6% in the fourth quarter. First Trust Advisors LP now owns 5,318,070 shares of the company’s stock worth $276,380,000 after acquiring an additional 1,482,235 shares during the period. Zurich Insurance Group Ltd FI bought a new stake in Core & Main in the third quarter valued at approximately $67,284,000. Finally, Morgan Stanley increased its position in Core & Main by 8.3% during the 4th quarter. Morgan Stanley now owns 14,586,859 shares of the company’s stock valued at $758,079,000 after purchasing an additional 1,118,145 shares during the period. 94.19% of the stock is currently owned by institutional investors and hedge funds.
Key Headlines Impacting Core & Main
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
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.
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