Core-Mark (NASDAQ:CORE) Lowered to “Strong Sell” at BidaskClub

BidaskClub lowered shares of Core-Mark (NASDAQ:CORE) from a sell rating to a strong sell rating in a research note issued to investors on Thursday, BidAskClub reports.

Several other analysts also recently issued reports on CORE. ValuEngine downgraded shares of Core-Mark from a hold rating to a sell rating in a report on Monday, August 12th. Zacks Investment Research raised shares of Core-Mark from a hold rating to a buy rating and set a $37.00 price target on the stock in a report on Monday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The company currently has an average rating of Hold and an average target price of $37.40.

Shares of CORE opened at $31.50 on Thursday. The company has a current ratio of 1.78, a quick ratio of 1.00 and a debt-to-equity ratio of 0.93. The firm’s 50-day moving average is $33.23 and its two-hundred day moving average is $36.60. Core-Mark has a twelve month low of $22.53 and a twelve month high of $40.95. The firm has a market capitalization of $1.48 billion, a P/E ratio of 22.66, a PEG ratio of 2.50 and a beta of 0.82.



Core-Mark (NASDAQ:CORE) last issued its earnings results on Wednesday, August 7th. The business services provider reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.06. Core-Mark had a net margin of 0.33% and a return on equity of 13.11%. The company had revenue of $4.30 billion for the quarter, compared to analyst estimates of $4.31 billion. During the same period in the prior year, the business posted $0.35 earnings per share. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. Analysts predict that Core-Mark will post 1.61 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 22nd were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Wednesday, August 21st. Core-Mark’s dividend payout ratio (DPR) is presently 31.65%.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in shares of Core-Mark by 0.8% in the second quarter. BlackRock Inc. now owns 7,047,188 shares of the business services provider’s stock valued at $279,915,000 after purchasing an additional 56,269 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Core-Mark by 5.5% in the second quarter. Vanguard Group Inc. now owns 5,080,735 shares of the business services provider’s stock valued at $201,806,000 after purchasing an additional 263,876 shares in the last quarter. Clearbridge Investments LLC lifted its stake in shares of Core-Mark by 2.1% during the first quarter. Clearbridge Investments LLC now owns 3,029,651 shares of the business services provider’s stock valued at $112,491,000 after buying an additional 60,900 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Core-Mark by 227.4% during the first quarter. JPMorgan Chase & Co. now owns 1,311,902 shares of the business services provider’s stock valued at $48,710,000 after buying an additional 911,250 shares during the period. Finally, Prudential Financial Inc. lifted its stake in shares of Core-Mark by 139.1% during the second quarter. Prudential Financial Inc. now owns 832,849 shares of the business services provider’s stock valued at $33,081,000 after buying an additional 484,533 shares during the period. 93.97% of the stock is currently owned by 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 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.

Further Reading: What Does a Sell-Side Analyst Rating Mean?

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