BidaskClub Upgrades Core-Mark (NASDAQ:CORE) to Buy

Core-Mark (NASDAQ:CORE) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Tuesday, BidAskClub reports.

Several other equities research analysts have also issued reports on CORE. TheStreet lowered Titan Machinery from a “b” rating to a “c+” rating in a research note on Thursday, March 28th. Zacks Investment Research downgraded Hess Midstream Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, May 14th. Finally, ValuEngine downgraded Yext from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 10th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Core-Mark currently has an average rating of “Buy” and a consensus price target of $37.83.

NASDAQ:CORE traded down $0.70 during trading hours on Tuesday, hitting $39.15. 168,800 shares of the company’s stock traded hands, compared to its average volume of 304,219. The company has a market cap of $1.87 billion, a price-to-earnings ratio of 28.17, a P/E/G ratio of 3.22 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 fifty day moving average of $38.47. 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 posted its quarterly earnings data on Wednesday, May 8th. The business services provider reported $0.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.06. The company had revenue of $3.75 billion during 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%. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the company earned $0.07 earnings per share. As a group, equities research analysts anticipate that Core-Mark will post 1.58 earnings per share for the current fiscal year.

In other Core-Mark news, Director Harvey L. Tepner sold 2,351 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $40.00, for a total transaction of $94,040.00. Following the sale, the director now owns 44,370 shares in the company, valued at $1,774,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.10% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc raised its position in Core-Mark by 86.6% during the first 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 in the last quarter. Advisor Group Inc. increased its holdings in shares of Core-Mark by 32.0% in the fourth quarter. Advisor Group Inc. now owns 2,181 shares of the business services provider’s stock worth $51,000 after buying an additional 529 shares during the period. Investors Research Corp purchased a new position in shares of Core-Mark in the first quarter worth about $52,000. Meeder Asset Management Inc. increased its holdings in shares of Core-Mark by 1,638.8% in the first quarter. Meeder Asset Management Inc. now owns 1,478 shares of the business services provider’s stock worth $54,000 after buying an additional 1,393 shares during the period. Finally, Group One Trading L.P. purchased a new position in shares of Core-Mark in the first quarter worth about $56,000. 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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