Zacks Investment Research Upgrades Core-Mark (CORE) to Buy

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Core-Mark (NASDAQ:CORE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The brokerage presently has a $29.00 price objective on the business services provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 17.22% from the company’s current price.

According to Zacks, “Core-Mark Holding Company, Inc.is one of the largest marketers of fresh and broad-line supply solutions to the convenience retail industry in North America. Core-Mark Holding Company, Inc.is one of the largest marketers of fresh and broad-line supply solutions to the convenience retail industry in North America. Core-Mark offers a full range of products, marketing programs, and technology solutions. Core-Mark services traditional convenience retailers, grocers, drug, liquor and specialty stores, and other stores that carry convenience products. “

A number of other equities research analysts also recently issued reports on the company. ValuEngine downgraded Core-Mark from a “buy” rating to a “hold” rating in a research note on Monday, September 24th. BidaskClub upgraded Core-Mark from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 11th. Raymond James downgraded Core-Mark from a “strong-buy” rating to an “outperform” rating and boosted their price target for the company from $33.00 to $40.00 in a research note on Friday, September 7th. Loop Capital set a $41.00 price target on Core-Mark and gave the company a “buy” rating in a research note on Wednesday, September 26th. Finally, Stephens upgraded 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 assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $32.83.

NASDAQ CORE opened at $24.74 on Thursday. Core-Mark has a one year low of $17.10 and a one year high of $40.12. The stock has a market capitalization of $1.15 billion, a P/E ratio of 18.20, a price-to-earnings-growth ratio of 1.43 and a beta of 0.48. 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 (NASDAQ:CORE) last released its quarterly earnings results on Tuesday, November 6th. The business services provider reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.17. The business had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $4.46 billion. Core-Mark had a return on equity of 11.58% and a net margin of 0.27%. The business’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.37 EPS. On average, sell-side analysts expect that Core-Mark will post 1.35 EPS for the current year.

In other news, VP Christopher Hobson sold 5,812 shares of Core-Mark stock in a transaction dated Thursday, November 8th. The stock was sold at an average price of $30.73, for a total transaction of $178,602.76. Following the transaction, the vice president now directly owns 55,355 shares of the company’s stock, valued at approximately $1,701,059.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.00% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of CORE. Principal Financial Group Inc. lifted its position in shares of Core-Mark by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 353,718 shares of the business services provider’s stock valued at $7,520,000 after buying an additional 8,066 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Core-Mark during the 2nd quarter valued at about $382,000. First Trust Advisors LP lifted its position in shares of Core-Mark by 146.9% during the 2nd quarter. First Trust Advisors LP now owns 63,927 shares of the business services provider’s stock valued at $1,451,000 after buying an additional 38,030 shares in the last quarter. Frontier Capital Management Co. LLC lifted its position in shares of Core-Mark by 4.6% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 170,571 shares of the business services provider’s stock valued at $3,872,000 after buying an additional 7,493 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Core-Mark during the 2nd quarter valued at about $222,000. 93.68% of the stock is currently owned by hedge funds and other institutional investors.

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.

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