Robert W. Baird Cuts Core & Main (NYSE:CNM) Price Target to $57.00

Core & Main (NYSE:CNM) had its price target reduced by stock analysts at Robert W. Baird from $66.00 to $57.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s target price would suggest a potential upside of 36.85% from the company’s previous close.

Other analysts have also issued reports about the stock. Northcoast Research lowered shares of Core & Main from a “buy” rating to a “neutral” rating in a research report on Wednesday, August 26th. Citigroup cut their price objective on shares of Core & Main from $54.00 to $53.00 and set a “neutral” rating on the stock in a research report on Thursday, June 11th. Wells Fargo & Company reissued an “overweight” rating and set a $48.00 target price on shares of Core & Main in a research report on Thursday. Wall Street Zen downgraded shares of Core & Main from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $24.00 price target on shares of Core & Main in a report on Thursday, June 11th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $54.30.

Core & Main Trading Down 5.5%

Shares of NYSE:CNM opened at $41.65 on Thursday. Core & Main has a 12-month low of $41.25 and a 12-month high of $59.66. The business’s fifty day simple moving average is $44.65 and its 200-day simple moving average is $47.99. The company has a market capitalization of $8.06 billion, a PE ratio of 17.65, a P/E/G ratio of 1.52 and a beta of 0.91. The company has a current ratio of 2.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.00.

Core & Main (NYSE:CNM) last issued its quarterly earnings data on Wednesday, September 9th. The company reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.03. Core & Main had a return on equity of 26.17% and a net margin of 5.87%.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 prior year, the business posted $0.87 EPS. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. As a group, equities research analysts predict that Core & Main will post 3.08 earnings per share for the current fiscal year.

Insider Activity at Core & Main

In related news, Director James Hope acquired 2,067 shares of the company’s stock in a transaction dated Monday, July 6th. The shares were purchased at an average cost of $46.01 per share, with a total value of $95,102.67. Following the completion of the acquisition, the director directly 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.51% of the company’s stock.

Hedge Funds Weigh In On Core & Main

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNM. Deutsche Bank AG lifted its position in Core & Main by 1.1% during the 4th quarter. Deutsche Bank AG now owns 17,859 shares of the company’s stock worth $928,000 after acquiring an additional 190 shares during the period. Fifth Third Wealth Advisors LLC increased its holdings in shares of Core & Main by 4.8% in the first quarter. Fifth Third Wealth Advisors LLC now owns 5,726 shares of the company’s stock valued at $283,000 after purchasing an additional 261 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Core & Main by 145.4% in the second quarter. EverSource Wealth Advisors LLC now owns 454 shares of the company’s stock worth $27,000 after purchasing an additional 269 shares during the last quarter. State of Michigan Retirement System raised its stake in shares of Core & Main by 0.7% in the first quarter. State of Michigan Retirement System now owns 45,400 shares of the company’s stock worth $2,243,000 after purchasing an additional 300 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB lifted its holdings in shares of Core & Main by 47.8% during the third quarter. Wilmington Savings Fund Society FSB now owns 961 shares of the company’s stock worth $52,000 after purchasing an additional 311 shares during the period. Hedge funds and other institutional investors own 94.19% of the company’s stock.

More Core & Main News

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

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.