William Blair Initiates Coverage on Core-Mark (CORE)

William Blair assumed coverage on shares of Core-Mark (NASDAQ:CORE) in a research note published on Wednesday, January 3rd, MarketBeat.com reports. The firm issued an outperform rating on the business services provider’s stock.

CORE has been the subject of a number of other research reports. Zacks Investment Research upgraded Core-Mark from a hold rating to a buy rating and set a $38.00 price objective for the company in a research note on Monday, October 30th. BidaskClub cut Core-Mark from a hold rating to a sell rating in a research note on Friday, December 22nd. Finally, Jefferies Group reissued a hold rating and issued a $32.00 target price on shares of Core-Mark in a report on Friday, November 10th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $30.50.

Shares of Core-Mark (NASDAQ CORE) traded down $0.16 on Wednesday, hitting $24.24. The stock had a trading volume of 415,400 shares, compared to its average volume of 651,237. The company has a quick ratio of 1.12, a current ratio of 2.16 and a debt-to-equity ratio of 0.93. The stock has a market cap of $1,120.00, a PE ratio of 27.24, a PEG ratio of 1.83 and a beta of 0.95. Core-Mark has a fifty-two week low of $23.33 and a fifty-two week high of $43.50.

Core-Mark (NASDAQ:CORE) last posted its earnings results on Tuesday, November 7th. The business services provider reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.04). The business had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.29 billion. Core-Mark had a return on equity of 9.90% and a net margin of 0.27%. research analysts forecast that Core-Mark will post 1.16 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 22nd. Investors of record on Tuesday, November 28th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date was Monday, November 27th. This is a positive change from Core-Mark’s previous quarterly dividend of $0.09. Core-Mark’s dividend payout ratio is currently 44.94%.

A number of hedge funds have recently made changes to their positions in the stock. California Public Employees Retirement System grew its holdings in Core-Mark by 73.3% during the third quarter. California Public Employees Retirement System now owns 18,193 shares of the business services provider’s stock worth $585,000 after acquiring an additional 7,693 shares during the period. Zions Bancorporation acquired a new stake in Core-Mark in the third quarter valued at $161,000. Royce & Associates LP grew its holdings in Core-Mark by 18.4% in the third quarter. Royce & Associates LP now owns 804,522 shares of the business services provider’s stock valued at $25,857,000 after purchasing an additional 125,000 shares during the last quarter. Pinebridge Investments L.P. grew its holdings in Core-Mark by 4.1% in the third quarter. Pinebridge Investments L.P. now owns 55,643 shares of the business services provider’s stock valued at $1,789,000 after purchasing an additional 2,167 shares during the last quarter. Finally, Brown Advisory Inc. grew its holdings in Core-Mark by 1.4% in the third quarter. Brown Advisory Inc. now owns 2,311,394 shares of the business services provider’s stock valued at $74,288,000 after purchasing an additional 31,689 shares during the last quarter. 98.27% of the stock is currently owned by hedge funds and other institutional investors.

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About Core-Mark

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.

Analyst Recommendations for Core-Mark (NASDAQ:CORE)

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