CoreLogic Inc. (NYSE:CLGX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “CoreLogic, Inc., formerly known as First American Corp., is a provider of consumer, financial and property information, analytics and services to business and government. The Company combines public, contributory and proprietary data to develop predictive decision analytics and provide business services. CoreLogic has built databases for U.S. real estate, mortgage application, fraud, and loan performance and is also a provider of mortgage and automotive credit reporting, property tax, valuation, flood determination, and geospatial analytics and services. The Company serves various industries, including automotive, cable, financial services, employment, geospatial information service, insurance, legal, oil and gas, real estate, retail, utility, and telecommunications. CoreLogic, Inc. is headquartered in Santa Ana, California. “
CLGX has been the subject of a number of other research reports. Piper Jaffray Cos. restated an “overweight” rating and set a $48.00 price target on shares of CoreLogic in a research note on Friday, August 19th. Keefe, Bruyette & Woods decreased their price target on shares of CoreLogic from $44.50 to $43.00 and set a “market perform” rating for the company in a research note on Monday, September 19th. Barclays PLC boosted their price target on shares of CoreLogic from $44.00 to $46.00 and gave the company an “overweight” rating in a research note on Thursday, July 7th. Robert W. Baird lowered shares of CoreLogic from an “outperform” rating to a “neutral” rating and boosted their price target for the company from $40.00 to $41.00 in a research note on Wednesday, July 27th. Finally, Oppenheimer Holdings Inc. restated an “outperform” rating and set a $45.00 price target on shares of CoreLogic in a research note on Friday, July 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $43.72.
Shares of CoreLogic (NYSE:CLGX) traded down 0.35% during trading on Tuesday, hitting $39.95. 163,076 shares of the stock traded hands. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of 26.69 and a beta of 1.06. The stock has a 50 day moving average price of $39.96 and a 200-day moving average price of $37.74. CoreLogic has a 1-year low of $30.73 and a 1-year high of $43.43.
CoreLogic (NYSE:CLGX) last released its quarterly earnings data on Monday, July 25th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.03. The company earned $500 million during the quarter, compared to analyst estimates of $485.55 million. CoreLogic had a net margin of 7.73% and a return on equity of 14.56%. CoreLogic’s revenue for the quarter was up 29.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.55 EPS. Equities analysts forecast that CoreLogic will post $2.28 EPS for the current year.
In related news, CEO Anand K. Nallathambi sold 36,668 shares of the business’s stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $38.02, for a total value of $1,394,117.36. Following the transaction, the chief executive officer now directly owns 226,047 shares of the company’s stock, valued at approximately $8,594,306.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Barry M. Sando sold 45,387 shares of the business’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $39.50, for a total transaction of $1,792,786.50. Following the completion of the transaction, the executive vice president now directly owns 159,615 shares in the company, valued at $6,304,792.50. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. Acrospire Investment Management LLC bought a new position in shares of CoreLogic during the first quarter worth $115,000. Huntington National Bank increased its position in shares of CoreLogic by 59.3% in the second quarter. Huntington National Bank now owns 4,526 shares of the company’s stock worth $174,000 after buying an additional 1,685 shares during the period. LS Investment Advisors LLC increased its position in shares of CoreLogic by 74.0% in the second quarter. LS Investment Advisors LLC now owns 5,356 shares of the company’s stock worth $206,000 after buying an additional 2,278 shares during the period. CrestPoint Capital Management LLC bought a new position in shares of CoreLogic during the second quarter worth $208,000. Finally, Tower Research Capital LLC TRC increased its stake in CoreLogic by 174.9% in the second quarter. Tower Research Capital LLC TRC now owns 5,394 shares of the company’s stock valued at $208,000 after buying an additional 3,432 shares during the period. 85.59% of the stock is currently owned by institutional investors.
CoreLogic, Inc is a provider of property information, analytics and data-enabled services. The Company provides detailed coverage of property, mortgages and other encumbrances, property risk and replacement cost, consumer credit, tenancy, location, hazard risk and related performance information. It operates through two segments: Property Intelligence and Risk Management and Work Flow.
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