Deutsche Bank Aktiengesellschaft Lowers Core & Main (NYSE:CNM) Price Target to $62.00

Core & Main (NYSE:CNM) had its target price decreased by investment analysts at Deutsche Bank Aktiengesellschaft from $65.00 to $62.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target points to a potential upside of 25.93% from the stock’s previous close.

A number of other equities analysts have also recently commented on the company. Zacks Research cut Core & Main from a “strong-buy” rating to a “hold” rating in a report on Monday, February 9th. Wells Fargo & Company increased their price target on shares of Core & Main from $57.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. Barclays lowered their price objective on shares of Core & Main from $63.00 to $62.00 and set an “overweight” rating for the company in a research note on Wednesday. Robert W. Baird lifted their price objective on shares of Core & Main from $62.00 to $64.00 and gave the company an “outperform” rating in a report on Wednesday, December 10th. Finally, JPMorgan Chase & Co. upped their target price on shares of Core & Main from $58.00 to $59.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 10th. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $61.64.

Core & Main Trading Down 2.7%

Shares of NYSE CNM traded down $1.35 during trading on Wednesday, reaching $49.23. The stock had a trading volume of 1,514,416 shares, compared to its average volume of 2,257,404. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.35 and a current ratio of 2.26. The company has a market cap of $9.63 billion, a P/E ratio of 21.65, a PEG ratio of 1.90 and a beta of 0.98. Core & Main has a fifty-two week low of $43.17 and a fifty-two week high of $67.18. The business’s 50-day moving average price is $54.26 and its 200-day moving average price is $52.59.

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

Hedge Funds Weigh In On Core & Main

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC lifted its holdings in Core & Main by 262.0% during the 1st quarter. Cubist Systematic Strategies LLC now owns 724 shares of the company’s stock worth $35,000 after buying an additional 524 shares during the last quarter. AQR Capital Management LLC purchased a new position in shares of Core & Main in the 1st quarter valued at about $396,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of 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 worth $1,719,000 after acquiring an additional 9,534 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Core & Main by 23.1% during the first quarter. Goldman Sachs Group Inc. now owns 291,988 shares of the company’s stock worth $14,106,000 after purchasing an additional 54,854 shares during the last quarter. Finally, Creative Planning lifted its stake in Core & Main by 41.9% during the second quarter. Creative Planning now owns 12,405 shares of the company’s stock worth $749,000 after purchasing an additional 3,662 shares during the last quarter. 94.19% of the stock is owned by institutional investors and hedge funds.

Key Core & Main News

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

• Positive Sentiment: Q4 earnings beat consensus — GAAP EPS $0.52 vs. $0.48 expected; margin and ROE remain solid, showing operating leverage even as revenue fell year?over?year. MarketBeat Earnings
• Positive Sentiment: Barclays trimmed its price target slightly from $63 to $62 but maintained an “Overweight” rating — the note still implies meaningful upside from current levels, which can limit downside pressure from some institutional holders. Benzinga
• Neutral Sentiment: Company posted its earnings slides and full transcript (useful for detail on category trends such as smart meters and water treatment) — no new surprises in the deck, but guidance items in the call drove market moves. Earnings Transcript
• Neutral Sentiment: Press release and investor presentation published with full quarter and FY commentary for modeling and Q&A review. BusinessWire Release
• Negative Sentiment: Revenue missed expectations ($1.58B vs. ~$1.59B est.) and was down ~6.9% YoY; management issued weaker full?year revenue guidance, which was the primary catalyst for the selloff. Yahoo Finance Guidance Story
• Negative Sentiment: Multiple market headlines flagged the weak outlook and share reaction (e.g., BayStreet, MSN) — reinforcing negative sentiment among traders and short?term funds. BayStreet
• Negative Sentiment: New risk disclosure around the need for strategic technology investments to stay competitive — investors may view required capex/IT spend as a margin and execution risk. TipRanks Risk Note
• Negative Sentiment: Analyst/author commentary (Seeking Alpha) argues CNM’s outlook and execution merit a Hold rather than Buy — suggests limited near?term multiple expansion given current fundamentals. Seeking Alpha Valuation View

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.