Core-Mark (CORE) Rating Increased to Strong-Buy at Zacks Investment Research

Core-Mark (NASDAQ:CORE) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Thursday. The brokerage presently has a $34.00 price objective on the business services provider’s stock. Zacks Investment Research‘s target price indicates a potential upside of 17.24% from the company’s current price.

According to Zacks, “Core-Mark Holding Company, Inc.is one of the largest marketers of fresh and broad-line supply solutions to the convenience retail industry in North America. Core-Mark Holding Company, Inc.is one of the largest marketers of fresh and broad-line supply solutions to the convenience retail industry in North America. Core-Mark offers a full range of products, marketing programs, and technology solutions. Core-Mark services traditional convenience retailers, grocers, drug, liquor and specialty stores, and other stores that carry convenience products. “

Several other equities analysts also recently weighed in on CORE. ValuEngine upgraded Core-Mark from a “strong sell” rating to a “sell” rating in a research report on Friday, August 3rd. Stephens upgraded Core-Mark from an “equal weight” rating to an “overweight” rating and set a $35.00 target price on the stock in a research report on Wednesday, August 8th. BMO Capital Markets reissued a “hold” rating and set a $30.00 price target (up from $21.00) on shares of Core-Mark in a report on Wednesday, August 8th. BidaskClub raised Core-Mark from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 9th. Finally, TheStreet raised Core-Mark from a “c” rating to a “b-” rating in a report on Friday, August 10th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $33.67.

NASDAQ CORE opened at $29.00 on Thursday. The firm has a market cap of $1.36 billion, a P/E ratio of 29.00, a P/E/G ratio of 1.68 and a beta of 0.57. The company has a current ratio of 1.99, a quick ratio of 1.14 and a debt-to-equity ratio of 0.66. Core-Mark has a fifty-two week low of $17.10 and a fifty-two week high of $40.12.

Core-Mark (NASDAQ:CORE) last released its earnings results on Tuesday, November 6th. The business services provider reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.17. The company had revenue of $4.27 billion for the quarter, compared to the consensus estimate of $4.46 billion. Core-Mark had a return on equity of 11.58% and a net margin of 0.27%. Core-Mark’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.37 earnings per share. On average, equities research analysts anticipate that Core-Mark will post 1.36 EPS for the current year.

In other Core-Mark news, VP Christopher Hobson sold 5,812 shares of the firm’s stock in a transaction dated Thursday, November 8th. The stock was sold at an average price of $30.73, for a total transaction of $178,602.76. Following the sale, the vice president now directly owns 55,355 shares of the company’s stock, valued at $1,701,059.15. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.00% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of CORE. Principal Financial Group Inc. increased its stake in Core-Mark by 2.3% during the first quarter. Principal Financial Group Inc. now owns 353,718 shares of the business services provider’s stock worth $7,520,000 after acquiring an additional 8,066 shares during the last quarter. Cubist Systematic Strategies LLC increased its stake in Core-Mark by 136.8% during the second quarter. Cubist Systematic Strategies LLC now owns 27,696 shares of the business services provider’s stock worth $629,000 after acquiring an additional 16,002 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Core-Mark during the second quarter worth approximately $222,000. Rhumbline Advisers increased its stake in Core-Mark by 4.8% during the second quarter. Rhumbline Advisers now owns 111,619 shares of the business services provider’s stock worth $2,534,000 after acquiring an additional 5,114 shares during the last quarter. Finally, Millennium Management LLC increased its stake in Core-Mark by 292.5% during the first quarter. Millennium Management LLC now owns 97,461 shares of the business services provider’s stock worth $2,072,000 after acquiring an additional 72,629 shares during the last quarter. 93.91% of the stock is currently owned by hedge funds and other institutional investors.

About Core-Mark

Core-Mark Holding Company, Inc markets fresh and broad-line supply solutions to the convenience retail industry. The company sells and distributes various food/non-food products, including cigarettes, fast food, candies, snacks, groceries, fresh products, dairy products, breads, beverages, other tobacco products, general merchandise and equipment, and health and beauty care products.

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