Core-Mark (CORE) Raised to Buy at ValuEngine

Core-Mark (NASDAQ:CORE) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, May 10th, ValuEngine reports.

Several other analysts also recently issued reports on CORE. BidaskClub raised shares of Core-Mark from a “hold” rating to a “buy” rating in a report on Friday, January 11th. Sidoti downgraded shares of Core-Mark from a “buy” rating to a “neutral” rating and set a $30.00 price target for the company. in a report on Tuesday, January 15th. Zacks Investment Research raised shares of Core-Mark from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a report on Monday, February 4th. Loop Capital increased their price target on shares of Core-Mark to $43.00 and gave the company a “buy” rating in a report on Monday, March 4th. Finally, Raymond James increased their price target on shares of Core-Mark from $36.00 to $39.00 and gave the company an “outperform” rating in a report on Monday, March 4th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $37.83.

Shares of CORE remained flat at $$38.20 during mid-day trading on Friday. 168,534 shares of the stock traded hands, compared to its average volume of 317,868. Core-Mark has a 52 week low of $18.13 and a 52 week high of $40.38. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of 27.48, a price-to-earnings-growth ratio of 2.97 and a beta of 0.82. The company has a current ratio of 1.61, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70.

Core-Mark (NASDAQ:CORE) last posted its quarterly earnings data on Wednesday, May 8th. The business services provider reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.06. The business had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.84 billion. Core-Mark had a net margin of 0.29% and a return on equity of 12.03%. Core-Mark’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.07 EPS. Research analysts anticipate that Core-Mark will post 1.58 EPS for the current year.

In other Core-Mark news, CAO Mathew J. Tachouet sold 3,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $36.65, for a total value of $109,950.00. Following the completion of the sale, the chief accounting officer now owns 5,836 shares in the company, valued at approximately $213,889.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP William Stein sold 7,500 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $38.27, for a total transaction of $287,025.00. Following the completion of the sale, the senior vice president now owns 94,301 shares of the company’s stock, valued at approximately $3,608,899.27. The disclosure for this sale can be found here. Insiders have sold a total of 24,901 shares of company stock valued at $948,090 in the last quarter. 2.10% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of CORE. FNY Investment Advisers LLC boosted its stake in shares of Core-Mark by 133.4% in the 4th quarter. FNY Investment Advisers LLC now owns 1,480 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 846 shares during the last quarter. Versant Capital Management Inc boosted its stake in Core-Mark by 86.6% during the 1st quarter. Versant Capital Management Inc now owns 978 shares of the business services provider’s stock worth $36,000 after acquiring an additional 454 shares during the last quarter. Advisor Group Inc. boosted its stake in Core-Mark by 32.0% during the 4th quarter. Advisor Group Inc. now owns 2,181 shares of the business services provider’s stock worth $51,000 after acquiring an additional 529 shares during the last quarter. Investors Research Corp bought a new position in Core-Mark during the 1st quarter worth approximately $52,000. Finally, Meeder Asset Management Inc. boosted its stake in Core-Mark by 1,638.8% during the 1st quarter. Meeder Asset Management Inc. now owns 1,478 shares of the business services provider’s stock worth $54,000 after acquiring an additional 1,393 shares during the last quarter. 94.96% 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 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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Analyst Recommendations for Core-Mark (NASDAQ:CORE)

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