Core-Mark (CORE) Lowered to Hold at BidaskClub

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Core-Mark (NASDAQ:CORE) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Thursday.

Other research analysts also recently issued research reports about the company. Sidoti upgraded Core-Mark from a “neutral” rating to a “buy” rating in a report on Thursday, January 3rd. Loop Capital set a $40.00 target price on Core-Mark and gave the company a “buy” rating in a research report on Wednesday, November 7th. ValuEngine raised Core-Mark from a “hold” rating to a “buy” rating in a research report on Tuesday, October 9th. Zacks Investment Research raised Core-Mark from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research report on Thursday, December 6th. Finally, TheStreet cut Core-Mark from a “b-” rating to a “c+” rating in a research report on Friday, December 14th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $31.71.

Shares of CORE traded down $0.16 during mid-day trading on Thursday, reaching $27.88. The company’s stock had a trading volume of 255,800 shares, compared to its average volume of 349,519. Core-Mark has a 12-month low of $17.10 and a 12-month high of $40.12. The company has a market cap of $1.29 billion, a P/E ratio of 27.88, a PEG ratio of 1.46 and a beta of 0.62. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.96 and a current ratio of 1.99.

Core-Mark (NASDAQ:CORE) last released its quarterly earnings data on Tuesday, November 6th. The business services provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.17. Core-Mark had a return on equity of 11.58% and a net margin of 0.27%. The business had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter in the prior year, the business posted $0.37 EPS. The business’s revenue for the quarter was down .9% on a year-over-year basis. As a group, analysts predict that Core-Mark will post 1.35 earnings per share for the current fiscal year.

In other Core-Mark news, CFO Christopher M. Miller sold 2,678 shares of the stock in a transaction that occurred on Friday, January 4th. The stock was sold at an average price of $24.74, for a total transaction of $66,253.72. Following the completion of the sale, the chief financial officer now directly owns 18,337 shares of the company’s stock, valued at approximately $453,657.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Christopher Hobson sold 5,812 shares of the stock in a transaction that occurred on Thursday, November 8th. The stock was sold at an average price of $30.73, for a total value of $178,602.76. Following the sale, the vice president now directly owns 55,355 shares of the company’s stock, valued at $1,701,059.15. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC bought a new position in shares of Core-Mark during the second quarter valued at about $3,466,000. Bank of America Corp DE raised its position in Core-Mark by 19.8% in the second quarter. Bank of America Corp DE now owns 100,394 shares of the business services provider’s stock worth $2,279,000 after acquiring an additional 16,623 shares during the period. Bank of New York Mellon Corp raised its position in Core-Mark by 2.9% in the second quarter. Bank of New York Mellon Corp now owns 646,155 shares of the business services provider’s stock worth $14,668,000 after acquiring an additional 18,407 shares during the period. Howard Capital Management bought a new stake in Core-Mark in the third quarter worth about $280,000. Finally, First Trust Advisors LP raised its position in Core-Mark by 15.0% in the third quarter. First Trust Advisors LP now owns 73,507 shares of the business services provider’s stock worth $2,496,000 after acquiring an additional 9,580 shares during the period. 93.93% of the stock is owned by institutional investors.

Core-Mark Company Profile

Core-Mark Holding Company, Inc markets fresh and broad-line supply solutions to the convenience retail industry. The company sells and distributes various food/non-food products, including cigarettes, fast food, candies, snacks, groceries, fresh products, dairy products, breads, beverages, other tobacco products, general merchandise and equipment, and health and beauty care products.

See Also: Systematic Risk and Investors

Analyst Recommendations for Core-Mark (NASDAQ:CORE)

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