Core-Mark (NASDAQ:CORE) Lowered to “Hold” at ValuEngine

ValuEngine lowered shares of Core-Mark (NASDAQ:CORE) from a buy rating to a hold rating in a research report released on Wednesday, ValuEngine reports.

A number of other research analysts have also weighed in on CORE. Zacks Investment Research lowered Hess Midstream Partners from a hold rating to a sell rating in a research report on Tuesday, May 14th. BidaskClub upgraded Workhorse Group from a hold rating to a buy rating in a research note on Monday, July 15th. Finally, TheStreet downgraded Titan Machinery from a b rating to a c+ rating in a research note on Thursday, March 28th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $37.83.

CORE stock opened at $37.94 on Wednesday. Core-Mark has a twelve month low of $22.53 and a twelve month high of $40.95. The company has a current ratio of 1.61, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 25.99, a PEG ratio of 3.00 and a beta of 0.76. The company’s 50 day moving average is $38.60.

Core-Mark (NASDAQ:CORE) last posted its quarterly earnings data on Wednesday, May 8th. The business services provider reported $0.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.06. Core-Mark had a return on equity of 12.03% and a net margin of 0.29%. The company had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.84 billion. During the same quarter last year, the company earned $0.07 EPS. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, equities research analysts predict that Core-Mark will post 1.58 earnings per share for the current year.

In related news, Director Harvey L. Tepner sold 2,351 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $40.00, for a total value of $94,040.00. Following the completion of the sale, the director now owns 44,370 shares in the company, valued at $1,774,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.10% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in shares of Core-Mark by 1.7% in the fourth quarter. BlackRock Inc. now owns 7,066,227 shares of the business services provider’s stock valued at $164,291,000 after purchasing an additional 115,677 shares during the period. Clearbridge Investments LLC raised its stake in Core-Mark by 2.1% in the first quarter. Clearbridge Investments LLC now owns 3,029,651 shares of the business services provider’s stock worth $112,491,000 after buying an additional 60,900 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Core-Mark by 227.4% in the first quarter. JPMorgan Chase & Co. now owns 1,311,902 shares of the business services provider’s stock worth $48,710,000 after buying an additional 911,250 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in Core-Mark by 8.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,102,584 shares of the business services provider’s stock worth $25,635,000 after buying an additional 81,229 shares in the last quarter. Finally, Macquarie Group Ltd. raised its stake in Core-Mark by 1.7% in the fourth quarter. Macquarie Group Ltd. now owns 1,065,366 shares of the business services provider’s stock worth $24,770,000 after buying an additional 18,000 shares in the last quarter. Hedge funds and other institutional investors own 92.15% 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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Analyst Recommendations for Core-Mark (NASDAQ:CORE)

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