Core & Main (NYSE:CNM) Price Target Cut to $57.00 by Analysts at Robert W. Baird

Core & Main (NYSE:CNM) had its target price dropped by equities researchers at Robert W. Baird from $66.00 to $57.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 36.85% from the company’s current price.

A number of other brokerages have also issued reports on CNM. Northcoast Research lowered Core & Main from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 26th. The Goldman Sachs Group reissued a “neutral” rating and set a $24.00 target price on shares of Core & Main in a research note on Thursday, June 11th. William Blair assumed coverage on shares of Core & Main in a research note on Thursday, July 23rd. They issued a “market perform” rating on the stock. Wells Fargo & Company reiterated an “overweight” rating and set a $48.00 price objective on shares of Core & Main in a report on Thursday. Finally, Wall Street Zen cut shares of Core & Main from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $54.30.

Core & Main Stock Performance

Core & Main stock opened at $41.65 on Thursday. The company has a quick ratio of 1.31, a current ratio of 2.31 and a debt-to-equity ratio of 1.00. Core & Main has a twelve month low of $41.25 and a twelve month high of $59.66. The company’s 50-day moving average price is $44.65 and its 200-day moving average price is $47.99. The company has a market cap of $8.06 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 1.52 and a beta of 0.91.

Core & Main (NYSE:CNM) last released its quarterly earnings results on Wednesday, September 9th. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.03. Core & Main had a net margin of 5.87% and a return on equity of 26.17%. The firm had revenue of $2.15 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same period in the previous year, the company earned $0.87 EPS. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, equities research analysts forecast that Core & Main will post 3.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director James Hope bought 2,067 shares of the stock in a transaction on Monday, July 6th. The stock was acquired at an average cost of $46.01 per share, for a total transaction of $95,102.67. Following the acquisition, the director owned 11,805 shares of the company’s stock, valued at $543,148.05. This represents a 21.23% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.51% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Core & Main

Several institutional investors have recently made changes to their positions in CNM. Cubist Systematic Strategies LLC lifted its stake in Core & Main by 262.0% in the first quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock worth $35,000 after acquiring an additional 524 shares during the period. AQR Capital Management LLC bought a new position in Core & Main during the 1st quarter worth about $396,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Core & Main by 36.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,576 shares of the company’s stock valued at $1,719,000 after purchasing an additional 9,534 shares during the period. Goldman Sachs Group Inc. increased its position in Core & Main by 23.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 291,988 shares of the company’s stock valued at $14,106,000 after purchasing an additional 54,854 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Core & Main by 145.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock valued at $27,000 after purchasing an additional 269 shares in the last quarter. Hedge funds and other institutional investors own 94.19% of the company’s stock.

Trending Headlines about Core & Main

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

• Positive Sentiment: Second-quarter results exceeded expectations. Core & Main reported adjusted EPS of $0.94, ahead of the roughly $0.91–$0.93 consensus range, while revenue reached $2.15 billion versus estimates of $2.14 billion. EPS increased from $0.87 a year earlier, and revenue rose 2.5% year over year. Core Main Q2 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Management reaffirmed its fiscal 2026 outlook. The company continues to project revenue of approximately $7.8 billion to $7.9 billion and adjusted EBITDA of $950 million to $980 million, with the revenue range above the roughly $7.7 billion analyst consensus. Maintaining guidance indicates management remains confident in its outlook. Core Main Reaffirms FY26 Outlook
• Positive Sentiment: Growth in fire-protection products and acquisitions continued to support results. One analyst upgraded CNM from “hold” to a soft “buy,” arguing that the recent selloff has made the shares more attractive on an absolute and peer-relative valuation basis. Core and Main Drop Is a Great Chance to Dive In
• Neutral Sentiment: Analysts collectively rate Core & Main a “Moderate Buy,” suggesting constructive longer-term sentiment but not an overwhelming consensus. Core Main Given Consensus Rating of Moderate Buy
• Negative Sentiment: Investors remain concerned about organic growth. Smart utility and storm-drainage demand was described as weak or tepid, raising questions about the company’s underlying growth rate once acquisitions are excluded. Those concerns drove the stock toward a two-year low even after the earnings beat. Core and Main Slides to Two-Year Low on Concerns About Organic Growth

Core & Main Company Profile

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.