Core-Mark (NASDAQ:CORE) Lifted to Buy at BidaskClub

BidaskClub upgraded shares of Core-Mark (NASDAQ:CORE) from a hold rating to a buy rating in a report issued on Tuesday, BidAskClub reports.

A number of other analysts have also recently commented on CORE. TheStreet cut shares of Titan Machinery from a b rating to a c+ rating in a research note on Thursday, March 28th. Zacks Investment Research cut shares of Hess Midstream Partners from a hold rating to a sell rating in a research note on Tuesday, May 14th. Finally, ValuEngine cut shares of Yext from a strong-buy rating to a buy rating in a research note on Friday, May 10th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $37.83.

Shares of CORE stock opened at $39.15 on Tuesday. The stock has a market cap of $1.83 billion, a PE ratio of 28.17, a P/E/G ratio of 3.15 and a beta of 0.76. 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’s 50 day simple moving average is $38.49. Core-Mark has a 12 month low of $22.53 and a 12 month high of $40.95.

Core-Mark (NASDAQ:CORE) last announced its quarterly earnings results on Wednesday, May 8th. The business services provider reported $0.14 EPS for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.06. The company had revenue of $3.75 billion for the quarter, compared to analysts’ expectations of $3.84 billion. Core-Mark had a net margin of 0.29% and a return on equity of 12.03%. Core-Mark’s revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.07 EPS. On average, sell-side analysts anticipate that Core-Mark will post 1.58 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Thursday, May 23rd were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.12%. The ex-dividend date was Wednesday, May 22nd. Core-Mark’s dividend payout ratio is presently 31.65%.

In other Core-Mark news, Director Harvey L. Tepner sold 2,351 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $40.00, for a total value of $94,040.00. Following the sale, the director now directly owns 44,370 shares in the company, valued at approximately $1,774,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Zions Bancorporation N.A. bought a new position in shares of Core-Mark during the 1st quarter valued at $192,000. Acadian Asset Management LLC lifted its position in shares of Core-Mark by 97.0% in the 1st quarter. Acadian Asset Management LLC now owns 345,423 shares of the business services provider’s stock worth $12,825,000 after purchasing an additional 170,078 shares during the period. Martingale Asset Management L P purchased a new stake in shares of Core-Mark in the 1st quarter worth about $2,342,000. Natixis Advisors L.P. lifted its position in shares of Core-Mark by 58.0% in the 4th quarter. Natixis Advisors L.P. now owns 194,090 shares of the business services provider’s stock worth $4,512,000 after purchasing an additional 71,224 shares during the period. Finally, Macquarie Group Ltd. lifted its position in shares of Core-Mark by 1.7% in the 4th quarter. Macquarie Group Ltd. now owns 1,065,366 shares of the business services provider’s stock worth $24,770,000 after purchasing an additional 18,000 shares during the period. Institutional investors and hedge funds own 92.15% 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 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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Analyst Recommendations for Core-Mark (NASDAQ:CORE)

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