ValuEngine lowered shares of Core-Mark (NASDAQ:CORE) from a buy rating to a hold rating in a research report report published on Tuesday.
Several other research firms also recently weighed in on CORE. Loop Capital set a $41.00 target price on shares of Core-Mark and gave the company a buy rating in a report on Wednesday, September 26th. Zacks Investment Research upgraded shares of Core-Mark from a hold rating to a buy rating and set a $37.00 price target for the company in a research note on Wednesday, August 15th. TheStreet upgraded shares of Core-Mark from a c rating to a b- rating in a research note on Friday, August 10th. Raymond James downgraded shares of Core-Mark from a strong-buy rating to an outperform rating and boosted their price target for the stock from $33.00 to $40.00 in a research note on Friday, September 7th. Finally, Stephens upgraded shares of Core-Mark from an equal weight rating to an overweight rating and set a $35.00 price target for the company in a research note on Wednesday, August 8th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $33.67.
Core-Mark stock traded down $1.76 during trading on Tuesday, hitting $28.78. The company had a trading volume of 13,645 shares, compared to its average volume of 370,578. Core-Mark has a 1-year low of $17.10 and a 1-year high of $40.12. 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 company has a market capitalization of $1.40 billion, a PE ratio of 28.90, a price-to-earnings-growth ratio of 1.82 and a beta of 0.57.
Core-Mark (NASDAQ:CORE) last posted its earnings results on Tuesday, November 6th. The business services provider reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.17. Core-Mark had a net margin of 0.27% and a return on equity of 11.66%. The firm had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter last year, the firm earned $0.37 EPS. The firm’s revenue for the quarter was down .9% on a year-over-year basis. As a group, equities research analysts forecast that Core-Mark will post 1.36 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Tuesday, November 20th will be paid a $0.11 dividend. This is an increase from Core-Mark’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Monday, November 19th. This represents a $0.44 annualized dividend and a dividend yield of 1.53%. Core-Mark’s payout ratio is 40.00%.
In related news, VP Christopher Hobson sold 5,812 shares of the business’s stock in a transaction on Thursday, November 8th. The shares were sold at an average price of $30.73, for a total transaction of $178,602.76. Following the completion of the transaction, the vice president now owns 55,355 shares in the company, valued at $1,701,059.15. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Virginia Retirement Systems ET AL acquired a new position in shares of Core-Mark during the third quarter worth $224,000. Howard Capital Management acquired a new position in shares of Core-Mark during the third quarter worth $280,000. PNC Financial Services Group Inc. grew its stake in shares of Core-Mark by 207.8% during the third quarter. PNC Financial Services Group Inc. now owns 8,960 shares of the business services provider’s stock worth $305,000 after purchasing an additional 6,049 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Core-Mark in the second quarter valued at $222,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Core-Mark in the first quarter valued at $249,000. Hedge funds and other institutional investors own 93.91% of the company’s stock.
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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