Core-Mark Holding Company, Inc. (CORE) Stock Rating Upgraded by Zacks Investment Research

Core-Mark Holding Company, Inc. (NASDAQ:CORE) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday.

According to Zacks, “Core-Mark is one of the largest broad-line, full-service wholesale distributors of packaged consumer products to the convenience retail industry in North America. The Core-Mark provides distribution and logistics services as well as marketing programs to retail locations in states and five Canadian provinces through distribution centers. Core-Mark services traditional convenience retailers, grocers, mass merchandisers, drug, liquor and specialty stores, and other stores that carry consumer packaged goods. “

CORE has been the subject of a number of other reports. Jefferies Group LLC reaffirmed a “hold” rating on shares of Core-Mark Holding in a research report on Friday, June 23rd. ValuEngine raised Core-Mark Holding from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. BidaskClub raised Core-Mark Holding from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Loop Capital reaffirmed a “buy” rating and set a $40.00 target price on shares of Core-Mark Holding in a research report on Monday, July 10th. Finally, Raymond James Financial, Inc. set a $35.00 target price on Core-Mark Holding and gave the company a “buy” rating in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $40.00.

Shares of Core-Mark Holding (CORE) traded up 2.12% during trading on Tuesday, hitting $32.28. The company had a trading volume of 161,906 shares. Core-Mark Holding has a 52 week low of $26.08 and a 52 week high of $44.12. The company has a market capitalization of $1.50 billion, a P/E ratio of 36.27 and a beta of 0.96. The stock’s 50-day moving average price is $29.42 and its 200 day moving average price is $32.58.

Core-Mark Holding (NASDAQ:CORE) last posted its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.11). The business had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.96 billion. Core-Mark Holding had a net margin of 0.27% and a return on equity of 9.70%. Core-Mark Holding’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.39 EPS. On average, equities research analysts forecast that Core-Mark Holding will post $1.24 earnings per share for the current year.

Core-Mark Holding announced that its Board of Directors has authorized a share buyback plan on Monday, August 28th that permits the company to buyback $40.00 million in shares. This buyback authorization permits the business services provider to purchase up to 3.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

COPYRIGHT VIOLATION WARNING: This story was originally published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this story on another publication, it was stolen and republished in violation of U.S. and international copyright & trademark laws. The correct version of this story can be read at https://ledgergazette.com/2017/10/10/core-mark-holding-company-inc-core-stock-rating-upgraded-by-zacks-investment-research.html.

A number of hedge funds and other institutional investors have recently modified their holdings of CORE. BlackRock Inc. raised its position in Core-Mark Holding by 120,507.9% during the 1st quarter. BlackRock Inc. now owns 5,661,333 shares of the business services provider’s stock valued at $176,579,000 after purchasing an additional 5,656,639 shares in the last quarter. Clearbridge Investments LLC raised its position in shares of Core-Mark Holding by 61.2% in the 1st quarter. Clearbridge Investments LLC now owns 3,643,365 shares of the business services provider’s stock worth $113,637,000 after acquiring an additional 1,383,365 shares in the last quarter. TimesSquare Capital Management LLC raised its position in shares of Core-Mark Holding by 1,752.1% in the 1st quarter. TimesSquare Capital Management LLC now owns 837,145 shares of the business services provider’s stock worth $26,111,000 after acquiring an additional 791,945 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of Core-Mark Holding in the 2nd quarter worth $22,195,000. Finally, FMR LLC bought a new position in shares of Core-Mark Holding in the 2nd quarter worth $17,929,000. 98.27% of the stock is owned by institutional investors and hedge funds.

Core-Mark Holding Company Profile

Core-Mark Holding Company, Inc is

According to Zacks, “Core-Mark is one of the largest broad-line, full-service wholesale distributors of packaged consumer products to the convenience retail industry in North America. The Core-Mark provides distribution and logistics services as well as marketing programs to retail locations in states and five Canadian provinces through distribution centers. Core-Mark services traditional convenience retailers, grocers, mass merchandisers, drug, liquor and specialty stores, and other stores that carry consumer packaged goods. “

CORE has been the subject of a number of other reports. Jefferies Group LLC reaffirmed a “hold” rating on shares of Core-Mark Holding in a research report on Friday, June 23rd. ValuEngine raised Core-Mark Holding from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. BidaskClub raised Core-Mark Holding from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Loop Capital reaffirmed a “buy” rating and set a $40.00 target price on shares of Core-Mark Holding in a research report on Monday, July 10th. Finally, Raymond James Financial, Inc. set a $35.00 target price on Core-Mark Holding and gave the company a “buy” rating in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $40.00.

Shares of Core-Mark Holding (CORE) traded up 2.12% during trading on Tuesday, hitting $32.28. The company had a trading volume of 161,906 shares. Core-Mark Holding has a 52 week low of $26.08 and a 52 week high of $44.12. The company has a market capitalization of $1.50 billion, a P/E ratio of 36.27 and a beta of 0.96. The stock’s 50-day moving average price is $29.42 and its 200 day moving average price is $32.58.

Core-Mark Holding (NASDAQ:CORE) last posted its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.11). The business had revenue of $3.80 billion for the quarter, compared to analysts’ expectations of $3.96 billion. Core-Mark Holding had a net margin of 0.27% and a return on equity of 9.70%. Core-Mark Holding’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.39 EPS. On average, equities research analysts forecast that Core-Mark Holding will post $1.24 earnings per share for the current year.

Core-Mark Holding announced that its Board of Directors has authorized a share buyback plan on Monday, August 28th that permits the company to buyback $40.00 million in shares. This buyback authorization permits the business services provider to purchase up to 3.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

COPYRIGHT VIOLATION WARNING: This story was originally published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this story on another publication, it was stolen and republished in violation of U.S. and international copyright & trademark laws. The correct version of this story can be read at https://ledgergazette.com/2017/10/10/core-mark-holding-company-inc-core-stock-rating-upgraded-by-zacks-investment-research.html.

A number of hedge funds and other institutional investors have recently modified their holdings of CORE. BlackRock Inc. raised its position in Core-Mark Holding by 120,507.9% during the 1st quarter. BlackRock Inc. now owns 5,661,333 shares of the business services provider’s stock valued at $176,579,000 after purchasing an additional 5,656,639 shares in the last quarter. Clearbridge Investments LLC raised its position in shares of Core-Mark Holding by 61.2% in the 1st quarter. Clearbridge Investments LLC now owns 3,643,365 shares of the business services provider’s stock worth $113,637,000 after acquiring an additional 1,383,365 shares in the last quarter. TimesSquare Capital Management LLC raised its position in shares of Core-Mark Holding by 1,752.1% in the 1st quarter. TimesSquare Capital Management LLC now owns 837,145 shares of the business services provider’s stock worth $26,111,000 after acquiring an additional 791,945 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of Core-Mark Holding in the 2nd quarter worth $22,195,000. Finally, FMR LLC bought a new position in shares of Core-Mark Holding in the 2nd quarter worth $17,929,000. 98.27% of the stock is owned by institutional investors and hedge funds.

Core-Mark Holding Company Profile

Core-Mark Holding Company, Inc is a wholesale distributor to the convenience retail industry in North America. The Company provides sales, marketing, distribution and logistics services. As of December 31, 2016, the Company offered services to over 43,000 customer locations across the United States and Canada through 30 distribution centers.

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