S&P 500 gains to extend record run, set for positive week
Core & Main Inc. stock reached an all-time high of 63.28 USD, marking a significant milestone for the company. This achievement reflects a robust performance over the past year, with the stock experiencing a 21.38% increase in value. The rise to this peak underscores investor confidence and positive market sentiment surrounding the company’s operations and future prospects. As Core & Main continues to navigate the market landscape, this all-time high serves as a testament to its growth trajectory and strategic initiatives.
In other recent news, Core & Main Inc. announced its Q1 2025 earnings, reporting earnings per share of $0.52, which met analyst expectations. The company’s revenue for the quarter was $1.9 billion, surpassing the anticipated $1.85 billion. Barclays (LON:BARC) raised its price target for Core & Main to $69 from $65, maintaining an Overweight rating, due to the company’s in-line EBITDA and top-line performance. Meanwhile, RBC Capital increased its price target to $67 from $60, citing stronger first-half volumes and improving pricing trends. Loop Capital also raised its price target to $68 from $63, maintaining a Buy rating, following Core & Main’s quarterly results that showed organic sales growth and gross margin expansion.
Core & Main’s fiscal year 2025 adjusted EBITDA guidance remains between $950 million and $1 billion. The company is experiencing steady growth in its Municipal segment, driven by Infrastructure Investment and Jobs Act (IIJA) funded projects. Despite higher-than-expected SG&A expenses attributed to prior acquisitions, analysts from Barclays and RBC Capital express confidence in Core & Main’s long-term prospects. The company plans to open 5-10 new locations in 2025, continuing its expansion strategy. These developments underscore Core & Main’s robust position in the water infrastructure sector.
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