Core-Mark (NASDAQ:CORE) Stock Rating Lowered by BidaskClub

Core-Mark (NASDAQ:CORE) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, BidAskClub reports.

A number of other research firms have also recently commented on CORE. BMO Capital Markets reduced their price objective on Core-Mark to $34.00 and set a “market perform” rating for the company in a research report on Tuesday, October 1st. They noted that the move was a valuation call. ValuEngine upgraded Core-Mark from a “sell” rating to a “hold” rating in a research report on Saturday, January 4th. Zacks Investment Research cut Core-Mark from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. Raymond James reduced their price target on Core-Mark from $42.00 to $31.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Finally, TheStreet cut Core-Mark from a “b-” rating to a “c+” rating in a research report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $34.25.

Core-Mark stock traded up $0.67 during mid-day trading on Tuesday, reaching $25.68. 733 shares of the stock traded hands, compared to its average volume of 241,386. The stock has a market capitalization of $1.14 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 1.76 and a beta of 0.76. The company has a debt-to-equity ratio of 1.21, a current ratio of 2.04 and a quick ratio of 0.88. Core-Mark has a 12-month low of $24.71 and a 12-month high of $40.95. The business’s 50-day moving average is $26.11 and its 200-day moving average is $30.97.

Core-Mark (NASDAQ:CORE) last posted its quarterly earnings data on Thursday, November 7th. The business services provider reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.04. The company had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.45 billion. Core-Mark had a return on equity of 12.67% and a net margin of 0.32%. Core-Mark’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.63 earnings per share. Equities analysts anticipate that Core-Mark will post 1.64 EPS for the current fiscal year.

In other Core-Mark news, CFO Christopher M. Miller sold 3,436 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $26.22, for a total value of $90,091.92. Following the completion of the sale, the chief financial officer now owns 28,366 shares in the company, valued at $743,756.52. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 2.10% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of CORE. First Trust Advisors LP increased its position in Core-Mark by 153.5% in the first quarter. First Trust Advisors LP now owns 33,275 shares of the business services provider’s stock worth $1,236,000 after buying an additional 20,147 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Core-Mark by 5.7% during the second quarter. Wells Fargo & Company MN now owns 84,908 shares of the business services provider’s stock worth $3,372,000 after purchasing an additional 4,587 shares in the last quarter. Bank of Montreal Can grew its position in shares of Core-Mark by 163.3% during the second quarter. Bank of Montreal Can now owns 6,461 shares of the business services provider’s stock worth $256,000 after purchasing an additional 4,007 shares in the last quarter. LPL Financial LLC grew its position in shares of Core-Mark by 5.8% during the second quarter. LPL Financial LLC now owns 5,863 shares of the business services provider’s stock worth $230,000 after purchasing an additional 324 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Core-Mark by 0.9% during the second quarter. Bank of New York Mellon Corp now owns 709,673 shares of the business services provider’s stock worth $28,189,000 after purchasing an additional 6,057 shares in the last quarter. Institutional investors and hedge funds own 95.69% 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 food products, including fast food, candies, snacks, and groceries, as well as beverages and fresh products, such as sandwiches, juices, salads, produce, dairy, and bread; and non-food products comprising cigars, tobacco, alternative nicotine products, health and beauty care products, and general merchandise and equipment.

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