Core-Mark (CORE) Cut to “Hold” at BidaskClub

BidaskClub lowered shares of Core-Mark (NASDAQ:CORE) from a buy rating to a hold rating in a research report report published on Wednesday.

Several other analysts also recently weighed in on the stock. ValuEngine downgraded shares of Core-Mark from a buy rating to a hold rating in a report on Monday, September 24th. Zacks Investment Research upgraded shares of Core-Mark from a hold rating to a buy rating and set a $38.00 target price for the company in a report on Friday, September 28th. Raymond James downgraded shares of Core-Mark from a strong-buy rating to an outperform rating and boosted their price target for the stock from $33.00 to $40.00 in a research note on Friday, September 7th. Loop Capital set a $41.00 price target on shares of Core-Mark and gave the stock a buy rating in a research note on Wednesday, September 26th. Finally, Stephens upgraded shares of Core-Mark from an equal weight rating to an overweight rating and set a $35.00 price target for the company in a research note on Wednesday, August 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $32.83.

Core-Mark stock opened at $24.74 on Wednesday. Core-Mark has a fifty-two week low of $17.10 and a fifty-two week high of $40.12. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.99 and a quick ratio of 0.96. The company has a market capitalization of $1.15 billion, a P/E ratio of 18.20, a P/E/G ratio of 1.43 and a beta of 0.48.

Core-Mark (NASDAQ:CORE) last posted its earnings results on Tuesday, November 6th. The business services provider reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.17. Core-Mark had a net margin of 0.27% and a return on equity of 11.58%. The firm had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter last year, the firm earned $0.37 EPS. The firm’s revenue for the quarter was down .9% on a year-over-year basis. On average, sell-side analysts expect that Core-Mark will post 1.35 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Tuesday, November 20th will be paid a $0.11 dividend. This is an increase from Core-Mark’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Monday, November 19th. This represents a $0.44 annualized dividend and a dividend yield of 1.78%. Core-Mark’s payout ratio is 44.00%.

In other Core-Mark news, VP Christopher Hobson sold 5,812 shares of the business’s stock in a transaction on Thursday, November 8th. The shares were sold at an average price of $30.73, for a total value of $178,602.76. Following the completion of the transaction, the vice president now owns 55,355 shares in the company, valued at $1,701,059.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.

Several large investors have recently bought and sold shares of CORE. Amalgamated Bank acquired a new position in shares of Core-Mark during the third quarter worth $215,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Core-Mark during the second quarter worth $222,000. Franklin Resources Inc. acquired a new position in shares of Core-Mark during the third quarter worth $223,000. Virginia Retirement Systems ET AL acquired a new position in shares of Core-Mark during the third quarter worth $224,000. Finally, Virtu Financial LLC acquired a new position in shares of Core-Mark during the third quarter worth $242,000. Institutional investors and hedge funds own 93.68% 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 various food/non-food products, including cigarettes, fast food, candies, snacks, groceries, fresh products, dairy products, breads, beverages, other tobacco products, general merchandise and equipment, and health and beauty care products.

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