Core & Main (NYSE:CNM) Reaches New 1-Year Low – Here’s What Happened

Shares of Core & Main, Inc. (NYSE:CNM) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $41.25 and last traded at $42.0670, with a volume of 489156 shares. The stock had previously closed at $44.06.

More Core & Main News

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

• Positive Sentiment: Core & Main reported fiscal second-quarter adjusted earnings of $0.94 per share, ahead of the roughly $0.91–$0.93 consensus, while revenue of $2.15 billion increased 2.5% year over year and slightly exceeded estimates. Core & Main Q2 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Management reaffirmed its fiscal 2026 outlook, including revenue of $7.8 billion to $7.9 billion, above the approximately $7.7 billion analyst consensus. Growth was supported by fire-protection products and acquisitions. Core & Main Reaffirms FY26 Outlook
• Neutral Sentiment: Brokerage sentiment remains generally constructive, with Core & Main receiving a consensus rating of “Moderate Buy.” Robert W. Baird kept an “outperform” rating but lowered its price target from $66 to $57, still implying substantial potential upside from recent levels. Core & Main Given Consensus Rating of Moderate Buy
• Negative Sentiment: Truist cut its price target from $50 to $45 and maintained a “hold” rating, signaling more limited near-term conviction despite the target remaining above the recent share price. Truist Cuts Price Target on Core & Main
• Negative Sentiment: Investors are concerned that growth in smart utilities and storm drainage remains tepid, prompting analysts to reduce forecasts after the earnings report. The stock subsequently reached a two-year low as markets weighed subdued organic growth against the earnings beat. Core & Main Slides to Two-Year Low on Organic Growth Concerns

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CNM shares. Robert W. Baird lowered their target price on Core & Main from $66.00 to $57.00 and set an “outperform” rating on the stock in a report on Thursday. Royal Bank Of Canada cut their price target on Core & Main from $63.00 to $60.00 and set an “outperform” rating for the company in a research note on Thursday. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $53.00 price target on shares of Core & Main in a research report on Thursday. Truist Financial reduced their target price on shares of Core & Main from $50.00 to $45.00 and set a “hold” rating for the company in a report on Thursday. Finally, Citigroup dropped their price target on shares of Core & Main from $54.00 to $53.00 and set a “neutral” rating on the stock in a research note on Thursday, June 11th. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, Core & Main currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.60.

Core & Main Trading Down 2.1%

The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.31 and a current ratio of 2.47. The stock has a market capitalization of $7.88 billion, a PE ratio of 16.75, a PEG ratio of 1.43 and a beta of 0.91. The stock has a 50-day moving average price of $44.57 and a two-hundred day moving average price of $47.88.

Core & Main (NYSE:CNM) last issued its quarterly earnings results on Wednesday, September 9th. The company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.03. Core & Main had a return on equity of 25.98% and a net margin of 5.96%.The business had revenue of $2.15 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the prior year, the business posted $0.87 EPS. Core & Main’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, equities analysts forecast that Core & Main, Inc. will post 3.08 earnings per share for the current year.

Insider Activity

In other Core & Main news, Director James Hope purchased 2,067 shares of the firm’s stock in a transaction that occurred on Monday, July 6th. The shares were bought at an average price of $46.01 per share, with a total value of $95,102.67. Following the completion of the purchase, the director directly owned 11,805 shares in the company, valued at $543,148.05. This trade represents a 21.23% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.51% of the stock is owned by company insiders.

Institutional Trading of Core & Main

A number of institutional investors have recently bought and sold shares of the stock. WINTON GROUP Ltd boosted its stake in Core & Main by 41.4% during the second quarter. WINTON GROUP Ltd now owns 46,061 shares of the company’s stock worth $2,222,000 after buying an additional 13,482 shares during the period. Squarepoint Ops LLC raised its stake in shares of Core & Main by 109.4% in the second quarter. Squarepoint Ops LLC now owns 215,273 shares of the company’s stock valued at $10,387,000 after acquiring an additional 112,444 shares during the period. Allworth Financial LP boosted its stake in shares of Core & Main by 176.7% during the 2nd quarter. Allworth Financial LP now owns 33,752 shares of the company’s stock worth $1,629,000 after purchasing an additional 21,555 shares during the period. Nykredit A S purchased a new position in shares of Core & Main during the 2nd quarter worth about $231,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Core & Main during the 2nd quarter valued at about $4,461,000. 94.19% of the stock is currently owned by institutional investors.

Core & Main Company Profile

Core & Main, Inc (NYSE: CNM) is a specialized distributor of water, wastewater, storm drainage and fire protection products in the United States. The company supplies infrastructure materials used in the construction, maintenance and repair of public and private utility systems.

Its product offerings include ductile iron and PVC pipe, valves, hydrants, water meters, storm drainage systems, pipe fittings, fire protection equipment and related products. Core & Main also provides services such as product sourcing, technical support, fabrication, field assistance and inventory management to help customers complete infrastructure projects.

Core & Main serves municipalities, utility contractors, water and wastewater authorities, private water companies, civil and site-development contractors, and other industrial customers through a nationwide distribution network.