Wolfe Research Lowers Corelogic (NYSE:CLGX) to Market Perform

Corelogic (NYSE:CLGX) was downgraded by research analysts at Wolfe Research from an “outperform” rating to a “market perform” rating in a report released on Friday, The Fly reports.

Several other equities research analysts have also issued reports on CLGX. Deutsche Bank lowered shares of Corelogic from a “hold” rating to a “sell” rating and dropped their target price for the company from $43.00 to $39.00 in a research report on Thursday. Zacks Investment Research upgraded shares of Corelogic from a “hold” rating to a “strong-buy” rating and set a $53.00 target price for the company in a research report on Tuesday, July 30th. Barclays started coverage on shares of Corelogic in a research report on Wednesday, August 21st. They set an “overweight” rating and a $54.00 target price for the company. TheStreet upgraded shares of Corelogic from a “c” rating to a “b-” rating in a research report on Wednesday. Finally, Robert W. Baird set a $45.00 target price on shares of Corelogic and gave the company a “hold” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Corelogic has a consensus rating of “Hold” and a consensus target price of $45.89.

Shares of CLGX stock traded up $0.59 during trading hours on Friday, reaching $41.51. The stock had a trading volume of 206,515 shares, compared to its average volume of 502,961. The stock’s fifty day simple moving average is $46.61 and its 200 day simple moving average is $43.92. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.75. Corelogic has a 12 month low of $31.87 and a 12 month high of $49.49. The firm has a market capitalization of $3.80 billion, a PE ratio of 17.59, a PEG ratio of 1.87 and a beta of 0.76.

Corelogic (NYSE:CLGX) last released its quarterly earnings data on Wednesday, October 23rd. The business services provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.08. Corelogic had a net margin of 1.83% and a return on equity of 18.12%. The company had revenue of $458.96 million during the quarter, compared to analyst estimates of $457.49 million. During the same period last year, the business earned $0.72 earnings per share. Corelogic’s revenue was up 1.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Corelogic will post 2.31 EPS for the current fiscal year.

In other Corelogic news, Director Mary Lee Widener sold 1,300 shares of Corelogic stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $45.83, for a total transaction of $59,579.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director J David Chatham sold 5,650 shares of Corelogic stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $45.00, for a total transaction of $254,250.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,550 shares of company stock valued at $1,809,386. 1.10% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of the business. State of New Jersey Common Pension Fund D purchased a new position in shares of Corelogic during the third quarter worth approximately $3,942,000. Alberta Investment Management Corp purchased a new position in shares of Corelogic during the third quarter worth approximately $875,000. Cascade Investment Advisors Inc. raised its stake in shares of Corelogic by 2.8% during the third quarter. Cascade Investment Advisors Inc. now owns 31,430 shares of the business services provider’s stock worth $1,454,000 after acquiring an additional 850 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Corelogic by 10.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,073 shares of the business services provider’s stock worth $235,000 after acquiring an additional 479 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Corelogic by 46.2% during the third quarter. Envestnet Asset Management Inc. now owns 36,395 shares of the business services provider’s stock worth $1,684,000 after acquiring an additional 11,494 shares in the last quarter. 93.00% of the stock is currently owned by hedge funds and other institutional investors.

Corelogic Company Profile

CoreLogic, Inc, together with its subsidiaries, provides property information, insight, analytics, and data-enabled solutions in North America, Western Europe, and the Asia Pacific. The company operates in two segments, Property Intelligence & Risk Management Solutions (PIRM) and Underwriting & Workflow Solutions (UWS).

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Analyst Recommendations for Corelogic (NYSE:CLGX)

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