Core-Mark (CORE) Trading Down 19.8%

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Core-Mark Holding Company, Inc. (NASDAQ:CORE) shares fell 19.8% during trading on Tuesday . The company traded as low as $29.54 and last traded at $30.39. 1,214,111 shares were traded during trading, an increase of 209% from the average session volume of 392,610 shares. The stock had previously closed at $37.90.

A number of research firms recently commented on CORE. BidaskClub lowered shares of Core-Mark from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 18th. Zacks Investment Research lowered shares of Core-Mark from a “buy” rating to a “hold” rating in a research note on Thursday, August 16th. ValuEngine upgraded shares of Core-Mark from a “strong sell” rating to a “sell” rating in a research note on Friday, August 3rd. BMO Capital Markets reiterated a “hold” rating and set a $30.00 price objective (up previously from $21.00) on shares of Core-Mark in a research note on Wednesday, August 8th. Finally, Sidoti lowered shares of Core-Mark from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 11th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $34.50.

The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.14 and a current ratio of 1.92. The stock has a market capitalization of $1.75 billion, a PE ratio of 30.39, a P/E/G ratio of 2.29 and a beta of 0.57.

Core-Mark (NASDAQ:CORE) last posted its quarterly earnings results on Tuesday, November 6th. The business services provider reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.17. The firm had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.46 billion. Core-Mark had a net margin of 0.21% and a return on equity of 9.56%. The firm’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.37 earnings per share. As a group, research analysts forecast that Core-Mark Holding Company, Inc. will post 1.28 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its position in Core-Mark by 10.3% in the second quarter. BlackRock Inc. now owns 6,504,225 shares of the business services provider’s stock worth $147,646,000 after buying an additional 609,424 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Core-Mark by 18.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,579,930 shares of the business services provider’s stock worth $58,565,000 after buying an additional 405,500 shares during the last quarter. Royce & Associates LP grew its position in Core-Mark by 14.8% in the second quarter. Royce & Associates LP now owns 2,486,953 shares of the business services provider’s stock worth $56,454,000 after buying an additional 321,322 shares during the last quarter. Victory Capital Management Inc. grew its position in Core-Mark by 6,293.3% in the third quarter. Victory Capital Management Inc. now owns 1,334,925 shares of the business services provider’s stock worth $45,334,000 after buying an additional 1,314,045 shares during the last quarter. Finally, Millennium Management LLC grew its position in Core-Mark by 650.3% in the second quarter. Millennium Management LLC now owns 731,267 shares of the business services provider’s stock worth $16,600,000 after buying an additional 633,806 shares during the last quarter. Hedge funds and other institutional investors own 93.91% of the company’s stock.

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About Core-Mark (NASDAQ:CORE)

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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