Corelogic (NYSE:CLGX) Upgraded to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Corelogic (NYSE:CLGX) from a hold rating to a buy rating in a report published on Monday, Zacks.com reports. They currently have $45.00 price objective on the business services provider’s stock.

According to Zacks, “CoreLogic, Inc., formerly known as First American Corp., is a provider of consumer, financial and property information, analytics and services to business and government. The Company combines public, contributory and proprietary data to develop predictive decision analytics and provide business services. CoreLogic has built databases for U.S. real estate, mortgage application, fraud, and loan performance and is also a provider of mortgage and automotive credit reporting, property tax, valuation, flood determination, and geospatial analytics and services. The Company serves various industries, including automotive, cable, financial services, employment, geospatial information service, insurance, legal, oil and gas, real estate, retail, utility, and telecommunications. CoreLogic, Inc. is headquartered in Santa Ana, California. “

Several other research firms also recently issued reports on CLGX. Compass Point set a $44.00 price target on Corelogic and gave the company a hold rating in a research note on Friday, July 26th. Wolfe Research downgraded Corelogic from an outperform rating to a market perform rating and set a $46.00 price target for the company. in a research note on Friday, October 25th. SunTrust Banks set a $44.00 price target on Corelogic and gave the company a hold rating in a research note on Friday, October 25th. Robert W. Baird set a $45.00 price target on Corelogic and gave the company a hold rating in a research note on Friday, July 26th. Finally, ValuEngine downgraded Corelogic from a buy rating to a hold rating in a research note on Saturday, September 14th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. Corelogic presently has a consensus rating of Hold and a consensus price target of $44.63.

CLGX traded up $0.23 during trading on Monday, hitting $40.15. The stock had a trading volume of 477,848 shares, compared to its average volume of 552,827. The company has a 50 day moving average price of $43.26 and a 200-day moving average price of $43.81. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of 17.01, a P/E/G ratio of 1.52 and a beta of 0.70. Corelogic has a one year low of $31.87 and a one year high of $49.49. The company has a debt-to-equity ratio of 1.75, a current ratio of 1.11 and a quick ratio of 1.11.

Corelogic (NYSE:CLGX) last released its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $0.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.08. The business had revenue of $458.96 million during the quarter, compared to the consensus estimate of $457.49 million. Corelogic had a return on equity of 18.36% and a net margin of 1.83%. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 EPS. As a group, sell-side analysts predict that Corelogic will post 2.38 EPS for the current fiscal year.

In other Corelogic news, CFO James L. Balas sold 2,000 shares of Corelogic stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $38.84, for a total value of $77,680.00. Following the completion of the transaction, the chief financial officer now directly owns 81,703 shares of the company’s stock, valued at approximately $3,173,344.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Frank Martell sold 7,500 shares of Corelogic stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $46.04, for a total value of $345,300.00. The disclosure for this sale can be found here. Insiders sold a total of 28,500 shares of company stock valued at $1,334,853 over the last ninety days. Insiders own 1.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in CLGX. Knuff & Co LLC acquired a new position in shares of Corelogic during the 3rd quarter worth $28,000. Advisor Group Inc. raised its holdings in shares of Corelogic by 65.8% during the 2nd quarter. Advisor Group Inc. now owns 1,356 shares of the business services provider’s stock worth $57,000 after buying an additional 538 shares in the last quarter. US Bancorp DE raised its holdings in shares of Corelogic by 29.6% during the 2nd quarter. US Bancorp DE now owns 3,563 shares of the business services provider’s stock worth $149,000 after buying an additional 813 shares in the last quarter. Machina Capital S.A.S. acquired a new position in shares of Corelogic during the 2nd quarter worth $184,000. Finally, Landscape Capital Management L.L.C. acquired a new position in shares of Corelogic during the 2nd quarter worth $205,000. 92.21% of the stock is owned by hedge funds and other institutional investors.

About Corelogic

CoreLogic, Inc, together with its subsidiaries, provides property information, insight, analytics, and data-enabled solutions in North America, Western Europe, and the Asia Pacific. The company operates in two segments, Property Intelligence & Risk Management Solutions (PIRM) and Underwriting & Workflow Solutions (UWS).

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