Core-Mark (CORE) Rating Increased to Buy at Zacks Investment Research

Core-Mark (NASDAQ:CORE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, Zacks.com reports. The brokerage presently has a $42.00 target price on the business services provider’s stock. Zacks Investment Research‘s target price points to a potential upside of 12.21% from the stock’s previous close.

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. “

Other analysts also recently issued reports about the stock. TheStreet raised shares of Core-Mark from a “c+” rating to a “b-” rating in a research report on Thursday, March 28th. BidaskClub downgraded shares of Core-Mark from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, April 10th. ValuEngine raised shares of Core-Mark from a “hold” rating to a “buy” rating in a research report on Tuesday, March 5th. Loop Capital boosted their target price on shares of Core-Mark to $43.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Finally, BMO Capital Markets upped their price objective on shares of Core-Mark to $38.00 and gave the stock a “market perform” rating in a report on Tuesday, March 5th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Core-Mark currently has an average rating of “Buy” and a consensus price target of $37.83.



CORE stock opened at $37.43 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 1.61 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 26.93, a price-to-earnings-growth ratio of 2.98 and a beta of 0.82. Core-Mark has a 12 month low of $18.13 and a 12 month high of $40.38.

Core-Mark (NASDAQ:CORE) last posted its earnings results on Wednesday, May 8th. The business services provider reported $0.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.06. The company had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.84 billion. Core-Mark had a net margin of 0.29% and a return on equity of 12.03%. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.07 earnings per share. On average, equities research analysts predict that Core-Mark will post 1.58 EPS for the current fiscal year.

In related news, insider Eric Rolheiser sold 8,550 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $38.00, for a total transaction of $324,900.00. Following the completion of the sale, the insider now directly owns 12,095 shares of the company’s stock, valued at approximately $459,610. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Christopher M. Miller sold 2,500 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $37.57, for a total transaction of $93,925.00. Following the sale, the chief financial officer now directly owns 33,570 shares of the company’s stock, valued at $1,261,224.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,901 shares of company stock valued at $948,090. 2.10% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund boosted its holdings in shares of Core-Mark by 1.8% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 17,701 shares of the business services provider’s stock worth $657,000 after buying an additional 320 shares during the period. Advisor Group Inc. raised its stake in Core-Mark by 15.3% during the 1st quarter. Advisor Group Inc. now owns 2,514 shares of the business services provider’s stock valued at $93,000 after purchasing an additional 333 shares during the last quarter. Arizona State Retirement System raised its stake in Core-Mark by 0.5% during the 1st quarter. Arizona State Retirement System now owns 70,761 shares of the business services provider’s stock valued at $2,627,000 after purchasing an additional 377 shares during the last quarter. Versant Capital Management Inc raised its stake in Core-Mark by 86.6% during the 1st quarter. Versant Capital Management Inc now owns 978 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 454 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Core-Mark by 20.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,199 shares of the business services provider’s stock valued at $74,000 after purchasing an additional 534 shares during the last quarter. 94.96% of the stock is owned by institutional investors and hedge funds.

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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