Core-Mark (CORE) Stock Rating Lowered by Zacks Investment Research

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Core-Mark (NASDAQ:CORE) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday.

According to Zacks, “Core-Mark Holding Company, Inc.is one of the largest marketers of fresh and broad-line supply solutions to the convenience retail industry in North America. Core-Mark Holding Company, Inc.is one of the largest marketers of fresh and broad-line supply solutions to the convenience retail industry in North America. Core-Mark offers a full range of products, marketing programs, and technology solutions. Core-Mark services traditional convenience retailers, grocers, drug, liquor and specialty stores, and other stores that carry convenience products. “

Several other brokerages also recently weighed in on CORE. BidaskClub raised shares of Core-Mark from a “hold” rating to a “buy” rating in a research note on Tuesday, July 10th. ValuEngine raised shares of Core-Mark from a “strong sell” rating to a “sell” rating in a research note on Friday, August 3rd. Stephens raised shares of Core-Mark from an “equal weight” rating to an “overweight” rating and set a $35.00 target price on the stock in a research note on Wednesday, August 8th. BMO Capital Markets reissued a “hold” rating and issued a $30.00 target price (up previously from $21.00) on shares of Core-Mark in a research note on Wednesday, August 8th. Finally, TheStreet raised shares of Core-Mark from a “c” rating to a “b-” rating in a research note on Friday, August 10th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $33.67.

Core-Mark stock traded down $0.58 during mid-day trading on Wednesday, reaching $29.96. 2,518 shares of the company’s stock traded hands, compared to its average volume of 370,578. The company has a market cap of $1.40 billion, a price-to-earnings ratio of 30.02, a PEG ratio of 1.82 and a beta of 0.57. The company has a quick ratio of 1.14, a current ratio of 1.92 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 released its quarterly earnings results on Tuesday, November 6th. The business services provider reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.17. The company had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $4.46 billion. Core-Mark had a net margin of 0.27% and a return on equity of 11.66%. Core-Mark’s revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.37 earnings per share. On average, equities research analysts anticipate that Core-Mark will post 1.36 earnings per share for the current fiscal year.

In other news, VP Christopher Hobson sold 5,812 shares of the stock in a transaction on Thursday, November 8th. The shares were sold at an average price of $30.73, for a total value of $178,602.76. Following the sale, the vice president now owns 55,355 shares of the company’s stock, valued at $1,701,059.15. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.00% of the company’s stock.

A number of hedge funds have recently bought and sold shares of CORE. Guggenheim Capital LLC increased its stake in Core-Mark by 116.5% in the 1st quarter. Guggenheim Capital LLC now owns 96,169 shares of the business services provider’s stock worth $2,044,000 after buying an additional 51,746 shares during the period. Millennium Management LLC increased its stake in Core-Mark by 292.5% in the 1st quarter. Millennium Management LLC now owns 97,461 shares of the business services provider’s stock worth $2,072,000 after buying an additional 72,629 shares during the period. Principal Financial Group Inc. increased its stake in Core-Mark by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 353,718 shares of the business services provider’s stock worth $7,520,000 after buying an additional 8,066 shares during the period. Skylands Capital LLC increased its stake in Core-Mark by 941.7% in the 2nd quarter. Skylands Capital LLC now owns 12,500 shares of the business services provider’s stock worth $284,000 after buying an additional 11,300 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in Core-Mark in the 2nd quarter worth about $382,000. 93.91% of the stock is currently 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.

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