Core-Mark (CORE) Upgraded to Buy by BidaskClub

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

A number of other brokerages also recently issued reports on CORE. Loop Capital set a $41.00 price target on Core-Mark and gave the company a buy rating in a report on Wednesday, September 26th. Zacks Investment Research downgraded Core-Mark from a buy rating to a hold rating in a report on Friday, December 7th. ValuEngine raised Core-Mark from a hold rating to a buy rating in a report on Tuesday, October 9th. Finally, TheStreet downgraded Core-Mark from a b- rating to a c+ rating in a report on Friday, December 14th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $32.00.

Shares of Core-Mark stock traded up $0.71 on Friday, reaching $27.55. 375,053 shares of the stock were exchanged, compared to its average volume of 356,038. The company has a quick ratio of 0.96, a current ratio of 1.99 and a debt-to-equity ratio of 0.66. Core-Mark has a twelve month low of $17.10 and a twelve month high of $40.12. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of 27.55, a price-to-earnings-growth ratio of 1.41 and a beta of 0.62.

Core-Mark (NASDAQ:CORE) last released its earnings results on Tuesday, November 6th. The business services provider reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.17. Core-Mark had a return on equity of 11.58% and a net margin of 0.27%. The firm had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter in the previous year, the company posted $0.37 earnings per share. The company’s revenue was down .9% compared to the same quarter last year. Research analysts anticipate that Core-Mark will post 1.35 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 14th. Stockholders of record on Tuesday, November 20th were given a $0.11 dividend. The ex-dividend date was Monday, November 19th. This is a boost from Core-Mark’s previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.60%. Core-Mark’s payout ratio is 44.00%.

In other news, VP Christopher Hobson sold 5,812 shares of the business’s stock in a transaction that occurred on Thursday, November 8th. The stock was sold at an average price of $30.73, for a total value of $178,602.76. Following the completion of the sale, the vice president now directly owns 55,355 shares in the company, valued at $1,701,059.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Christopher M. Miller sold 2,678 shares of the business’s stock in a transaction that occurred on Friday, January 4th. The shares were sold at an average price of $24.74, for a total value of $66,253.72. Following the completion of the sale, the chief financial officer now owns 18,337 shares of the company’s stock, valued at $453,657.38. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in shares of Core-Mark by 6.9% during the third quarter. BlackRock Inc. now owns 6,950,550 shares of the business services provider’s stock worth $236,040,000 after purchasing an additional 446,325 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Core-Mark by 8.2% during the third quarter. Vanguard Group Inc. now owns 4,518,138 shares of the business services provider’s stock worth $153,437,000 after purchasing an additional 341,935 shares in the last quarter. Vanguard Group Inc increased its position in shares of Core-Mark by 8.2% during the third quarter. Vanguard Group Inc now owns 4,518,138 shares of the business services provider’s stock worth $153,437,000 after purchasing an additional 341,935 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of Core-Mark by 5.6% during the third quarter. Clearbridge Investments LLC now owns 2,926,831 shares of the business services provider’s stock worth $99,395,000 after purchasing an additional 155,419 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Core-Mark by 4.5% during the third quarter. Dimensional Fund Advisors LP now owns 2,695,409 shares of the business services provider’s stock worth $91,536,000 after purchasing an additional 115,479 shares in the last quarter. Institutional investors and hedge funds own 93.96% 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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