ValuEngine Downgrades Core-Mark (CORE) to Hold

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ValuEngine downgraded shares of Core-Mark (NASDAQ:CORE) from a buy rating to a hold rating in a research report report published on Tuesday.

Several other analysts have also issued reports on the company. BidaskClub upgraded Core-Mark from a buy rating to a strong-buy rating in a report on Thursday, October 11th. Zacks Investment Research upgraded Core-Mark from a hold rating to a buy rating and set a $38.00 price objective for the company in a report on Friday, September 28th. Loop Capital set a $41.00 price objective on Core-Mark and gave the stock a buy rating in a report on Wednesday, September 26th. Sidoti lowered Core-Mark from a buy rating to a neutral rating in a report on Tuesday, September 11th. Finally, Raymond James lowered Core-Mark from a strong-buy rating to an outperform rating and increased their price objective for the stock from $33.00 to $40.00 in a report on Friday, September 7th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $33.67.

Shares of Core-Mark stock opened at $29.00 on Tuesday. The firm has a market capitalization of $1.36 billion, a PE ratio of 29.00, a price-to-earnings-growth ratio of 1.68 and a beta of 0.57. The company has a quick ratio of 1.14, a current ratio of 1.99 and a debt-to-equity ratio of 0.66. Core-Mark has a 12 month low of $17.10 and a 12 month high of $40.12.

Core-Mark (NASDAQ:CORE) last issued its earnings results on Tuesday, November 6th. The business services provider reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $4.46 billion. During the same quarter last year, the firm posted $0.37 earnings per share. Core-Mark’s revenue was down .9% compared to the same quarter last year. As a group, analysts predict that Core-Mark will post 1.36 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Tuesday, November 20th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.52%. This is a positive change from Core-Mark’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Monday, November 19th. Core-Mark’s dividend payout ratio (DPR) is currently 40.00%.

In other Core-Mark news, VP Christopher Hobson sold 5,812 shares of the firm’s stock in a transaction dated Thursday, November 8th. The stock was sold at an average price of $30.73, for a total transaction of $178,602.76. Following the transaction, the vice president now directly owns 55,355 shares in the company, valued at $1,701,059.15. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.00% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of CORE. Victory Capital Management Inc. raised its holdings in Core-Mark by 6,293.3% during the third quarter. Victory Capital Management Inc. now owns 1,334,925 shares of the business services provider’s stock valued at $45,334,000 after buying an additional 1,314,045 shares in the last quarter. Millennium Management LLC raised its holdings in Core-Mark by 650.3% during the second quarter. Millennium Management LLC now owns 731,267 shares of the business services provider’s stock valued at $16,600,000 after buying an additional 633,806 shares in the last quarter. BlackRock Inc. raised its holdings in Core-Mark by 10.3% during the second quarter. BlackRock Inc. now owns 6,504,225 shares of the business services provider’s stock valued at $147,646,000 after buying an additional 609,424 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Core-Mark by 18.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,579,930 shares of the business services provider’s stock valued at $58,565,000 after buying an additional 405,500 shares in the last quarter. Finally, Prudential Financial Inc. raised its holdings in Core-Mark by 483.1% during the third quarter. Prudential Financial Inc. now owns 477,453 shares of the business services provider’s stock valued at $16,214,000 after buying an additional 395,565 shares in the last quarter. Institutional investors own 93.91% of the company’s stock.

About Core-Mark

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.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Core-Mark (NASDAQ:CORE)

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