Core-Mark (CORE) Upgraded to Buy by Zacks Investment Research

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Core-Mark (NASDAQ:CORE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Monday. The firm currently has a $31.00 price objective on the business services provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 7.45% 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 brokerages have also recently commented on CORE. ValuEngine upgraded shares of Core-Mark from a “hold” rating to a “buy” rating in a research report on Tuesday, October 9th. BidaskClub upgraded shares of Core-Mark from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 11th. Loop Capital set a $40.00 price target on shares of Core-Mark and gave the stock a “buy” rating in a research report on Wednesday, November 7th. Sidoti cut shares of Core-Mark from a “buy” rating to a “neutral” rating and set a $30.00 price target for the company. in a research report on Tuesday, January 15th. Finally, TheStreet cut shares of Core-Mark from a “b-” rating to a “c+” rating in a research report on Friday, December 14th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $32.00.

Shares of NASDAQ CORE opened at $28.85 on Monday. Core-Mark has a 1-year low of $17.10 and a 1-year high of $40.12. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 20.53, a P/E/G ratio of 1.47 and a beta of 0.79. The company has a quick ratio of 0.96, a current ratio of 1.99 and a debt-to-equity ratio of 0.66.

Core-Mark (NASDAQ:CORE) last issued its quarterly earnings results on Tuesday, November 6th. The business services provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.46 by $0.17. Core-Mark had a net margin of 0.27% and a return on equity of 11.58%. The company had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $4.46 billion. During the same quarter in the previous year, the company earned $0.37 EPS. Core-Mark’s revenue was down .9% on a year-over-year basis. On average, equities research analysts anticipate that Core-Mark will post 1.35 earnings per share for the current year.

In related news, VP Christopher Hobson sold 5,812 shares of the business’s stock in a transaction that occurred on Thursday, November 8th. The shares were sold at an average price of $30.73, for a total transaction of $178,602.76. Following the completion of the transaction, the vice president now owns 55,355 shares in the company, valued at $1,701,059.15. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Christopher M. Miller sold 2,678 shares of the business’s stock in a transaction that occurred on Friday, January 4th. The shares were sold at an average price of $24.74, for a total transaction of $66,253.72. Following the transaction, the chief financial officer now owns 18,337 shares of the company’s stock, valued at approximately $453,657.38. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Core-Mark by 20.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,199 shares of the business services provider’s stock valued at $74,000 after purchasing an additional 534 shares during the period. FNY Investment Advisers LLC boosted its holdings in shares of Core-Mark by 133.4% in the fourth quarter. FNY Investment Advisers LLC now owns 1,480 shares of the business services provider’s stock valued at $34,000 after buying an additional 846 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Core-Mark by 1.5% in the fourth quarter. SG Americas Securities LLC now owns 101,055 shares of the business services provider’s stock valued at $2,350,000 after buying an additional 1,504 shares during the period. State Board of Administration of Florida Retirement System boosted its holdings in shares of Core-Mark by 11.7% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 34,330 shares of the business services provider’s stock valued at $798,000 after buying an additional 3,608 shares during the period. Finally, Arizona State Retirement System boosted its holdings in shares of Core-Mark by 5.6% in the fourth quarter. Arizona State Retirement System now owns 70,384 shares of the business services provider’s stock valued at $1,636,000 after buying an additional 3,751 shares during the period. Hedge funds and other institutional investors own 93.90% 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 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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