ValuEngine Downgrades Core-Mark (CORE) to Hold

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

A number of other equities research analysts also recently weighed in on CORE. BMO Capital Markets reissued a hold rating and set a $30.00 target price (up from $21.00) on shares of Core-Mark in a research report on Wednesday, August 8th. BidaskClub raised Core-Mark from a hold rating to a buy rating in a report on Tuesday, July 10th. Zacks Investment Research raised Core-Mark from a hold rating to a buy rating and set a $37.00 price objective on the stock in a report on Wednesday, August 15th. TheStreet raised Core-Mark from a c rating to a b- rating in a report on Friday, August 10th. Finally, Sidoti downgraded Core-Mark from a buy rating to a neutral rating in a report on Tuesday, September 11th. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $33.67.

CORE stock opened at $29.00 on Tuesday. Core-Mark has a twelve month low of $17.10 and a twelve month high of $40.12. The stock has a market cap of $1.36 billion, a P/E ratio of 29.00, a PEG ratio of 1.68 and a beta of 0.57. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.14 and a current ratio of 1.99.

Core-Mark (NASDAQ:CORE) last released its earnings results on Tuesday, November 6th. The business services provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.17. Core-Mark had a return on equity of 11.58% and a net margin of 0.27%. The business had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $4.46 billion. During the same period last year, the business earned $0.37 earnings per share. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. On average, sell-side analysts predict that Core-Mark will post 1.36 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Tuesday, November 20th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.52%. 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. Core-Mark’s payout ratio is presently 40.00%.

In other Core-Mark news, VP Christopher Hobson sold 5,812 shares of Core-Mark stock in a transaction that occurred on Thursday, November 8th. The stock was sold at an average price of $30.73, for a total transaction of $178,602.76. Following the sale, the vice president now directly owns 55,355 shares of the company’s stock, valued at $1,701,059.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of CORE. Victory Capital Management Inc. raised its stake in shares of Core-Mark by 6,293.3% in the third quarter. Victory Capital Management Inc. now owns 1,334,925 shares of the business services provider’s stock valued at $45,334,000 after acquiring an additional 1,314,045 shares during the last quarter. Millennium Management LLC raised its stake in shares of Core-Mark by 650.3% in the second quarter. Millennium Management LLC now owns 731,267 shares of the business services provider’s stock valued at $16,600,000 after acquiring an additional 633,806 shares during the last quarter. BlackRock Inc. raised its stake in shares of Core-Mark by 10.3% in the second quarter. BlackRock Inc. now owns 6,504,225 shares of the business services provider’s stock valued at $147,646,000 after acquiring an additional 609,424 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Core-Mark by 18.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,579,930 shares of the business services provider’s stock valued at $58,565,000 after acquiring an additional 405,500 shares during the last quarter. Finally, Prudential Financial Inc. raised its stake in shares of Core-Mark by 483.1% in the third quarter. Prudential Financial Inc. now owns 477,453 shares of the business services provider’s stock valued at $16,214,000 after acquiring an additional 395,565 shares during the last quarter. Institutional investors own 93.91% of the company’s stock.

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 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.

Further Reading: Why investors pay attention to retained earnings

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Core-Mark (NASDAQ:CORE)

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