Core-Mark (NASDAQ:CORE) Downgraded by BidaskClub

BidaskClub lowered shares of Core-Mark (NASDAQ:CORE) from a hold rating to a sell rating in a research report sent to investors on Tuesday, BidAskClub reports.

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

CORE stock traded up $0.10 during trading on Tuesday, hitting $25.69. 122,056 shares of the company’s stock traded hands, compared to its average volume of 215,215. The company has a quick ratio of 0.88, a current ratio of 2.04 and a debt-to-equity ratio of 1.21. Core-Mark has a 52 week low of $24.71 and a 52 week high of $40.95. The stock has a fifty day moving average price of $26.09 and a two-hundred day moving average price of $30.90. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 1.76 and a beta of 0.76.

Core-Mark (NASDAQ:CORE) last released its quarterly earnings results on Thursday, November 7th. The business services provider reported $0.60 EPS for the quarter, topping the consensus estimate of $0.56 by $0.04. The business had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.45 billion. Core-Mark had a net margin of 0.32% and a return on equity of 12.67%. The company’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 earnings per share. As a group, equities research analysts expect 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 shares were 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 directly owns 28,366 shares of the company’s stock, valued at approximately $743,756.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.10% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. lifted its stake in Core-Mark by 0.8% during the second quarter. BlackRock Inc. now owns 7,047,188 shares of the business services provider’s stock valued at $279,915,000 after buying an additional 56,269 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Core-Mark by 5.5% in the 2nd quarter. Vanguard Group Inc. now owns 5,080,735 shares of the business services provider’s stock valued at $201,806,000 after purchasing an additional 263,876 shares during the period. State Street Corp increased its holdings in shares of Core-Mark by 2.5% in the 3rd quarter. State Street Corp now owns 1,366,662 shares of the business services provider’s stock valued at $43,890,000 after purchasing an additional 32,735 shares during the period. Copeland Capital Management LLC increased its holdings in shares of Core-Mark by 11.0% in the 3rd quarter. Copeland Capital Management LLC now owns 865,674 shares of the business services provider’s stock valued at $27,801,000 after purchasing an additional 85,889 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Core-Mark by 1.6% in the 2nd quarter. Northern Trust Corp now owns 785,356 shares of the business services provider’s stock valued at $31,194,000 after purchasing an additional 12,685 shares during the period. 95.69% of the stock is owned by institutional investors.

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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