Core-Mark (NASDAQ:CORE) Cut to “Sell” at BidaskClub

Core-Mark (NASDAQ:CORE) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Wednesday, July 24th, BidAskClub reports.

Other equities analysts also recently issued research reports about the stock. TheStreet upgraded shares of Core-Mark from a “c+” rating to a “b-” rating in a report on Thursday, March 28th. Zacks Investment Research upgraded shares of Core-Mark from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a report on Tuesday, May 14th. Finally, ValuEngine downgraded shares of Core-Mark from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Core-Mark has an average rating of “Hold” and an average target price of $38.40.

Shares of CORE stock traded down $0.45 during mid-day trading on Wednesday, hitting $32.97. 248,612 shares of the stock traded hands, compared to its average volume of 291,268. The stock has a market cap of $1.49 billion, a P/E ratio of 23.72, a P/E/G ratio of 2.54 and a beta of 0.76. The stock’s fifty day moving average is $37.00 and its two-hundred day moving average is $36.17. Core-Mark has a 52-week low of $22.53 and a 52-week high of $40.95. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.78 and a quick ratio of 1.00.

Core-Mark (NASDAQ:CORE) last released its quarterly earnings results on Wednesday, August 7th. The business services provider reported $0.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.06. The business had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.31 billion. Core-Mark had a net margin of 0.33% and a return on equity of 13.11%. The company’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.35 earnings per share. As a group, equities analysts forecast that Core-Mark will post 1.6 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in CORE. Voloridge Investment Management LLC increased its stake in shares of Core-Mark by 137.6% in the 2nd quarter. Voloridge Investment Management LLC now owns 39,836 shares of the business services provider’s stock worth $1,582,000 after acquiring an additional 23,067 shares during the last quarter. Nuveen Asset Management LLC acquired a new stake in shares of Core-Mark in the 2nd quarter worth $21,677,000. Price T Rowe Associates Inc. MD increased its position in shares of Core-Mark by 3.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 49,263 shares of the business services provider’s stock worth $1,957,000 after purchasing an additional 1,536 shares during the last quarter. D. E. Shaw & Co. Inc. increased its position in shares of Core-Mark by 8.8% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 251,900 shares of the business services provider’s stock worth $10,005,000 after purchasing an additional 20,285 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Core-Mark in the 2nd quarter valued at about $91,000. Institutional investors and hedge funds own 94.10% of the company’s stock.

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 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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