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 research note issued to investors on Tuesday, BidAskClub reports.

CORE has been the topic of a number of other research reports. Zacks Investment Research lowered Hess Midstream Partners from a hold rating to a sell rating in a research report on Tuesday, May 14th. TheStreet lowered Titan Machinery from a b rating to a c+ rating in a research report on Thursday, March 28th. Finally, ValuEngine lowered Yext from a strong-buy rating to a buy rating in a research report on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $37.83.

Shares of NASDAQ CORE opened at $39.35 on Tuesday. The firm has a 50 day moving average price of $38.52. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of 26.82, a P/E/G ratio of 3.09 and a beta of 0.76. Core-Mark has a 52 week low of $22.53 and a 52 week high of $40.95. The company has a current ratio of 1.61, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70.

Core-Mark (NASDAQ:CORE) last issued its 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 firm had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.84 billion. Core-Mark had a return on equity of 12.03% and a net margin of 0.29%. Core-Mark’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.07 earnings per share. As a group, sell-side analysts anticipate that Core-Mark will post 1.58 earnings per share for the current year.

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

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

A number of large investors have recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in Core-Mark by 1.7% in the fourth quarter. BlackRock Inc. now owns 7,066,227 shares of the business services provider’s stock valued at $164,291,000 after acquiring an additional 115,677 shares during the period. Clearbridge Investments LLC lifted its holdings in Core-Mark by 2.1% in 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 acquiring an additional 60,900 shares during the period. JPMorgan Chase & Co. lifted its holdings in Core-Mark by 227.4% in 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 acquiring an additional 911,250 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of Core-Mark by 8.0% during the 4th quarter. Thrivent Financial for Lutherans now owns 1,102,584 shares of the business services provider’s stock worth $25,635,000 after buying an additional 81,229 shares during the period. Finally, Macquarie Group Ltd. raised its stake in shares of Core-Mark by 1.7% during the 4th quarter. Macquarie Group Ltd. now owns 1,065,366 shares of the business services provider’s stock worth $24,770,000 after buying an additional 18,000 shares during the period. 92.15% of the stock is 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.

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Analyst Recommendations for Core-Mark (NASDAQ:CORE)

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