Core-Mark Holding’s (CORE) “Hold” Rating Reiterated at Jefferies Group LLC
Core-Mark Holding Company, Inc. (NASDAQ:CORE)‘s stock had its “hold” rating reaffirmed by investment analysts at Jefferies Group LLC in a research report issued to clients and investors on Friday. They currently have a $32.00 price target on the business services provider’s stock. Jefferies Group LLC’s price target would indicate a potential upside of 9.29% from the stock’s current price. Jefferies Group also issued estimates for Core-Mark Holding’s Q4 2017 earnings at $0.47 EPS, FY2017 earnings at $1.16 EPS, Q1 2018 earnings at $0.06 EPS, Q2 2018 earnings at $0.29 EPS, Q3 2018 earnings at $0.37 EPS, Q4 2018 earnings at $0.62 EPS, FY2018 earnings at $1.34 EPS, FY2019 earnings at $1.53 EPS, FY2020 earnings at $1.83 EPS and FY2021 earnings at $1.85 EPS.
CORE has been the subject of several other reports. Zacks Investment Research upgraded shares of Core-Mark Holding from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research report on Monday, October 30th. ValuEngine lowered shares of Core-Mark Holding from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Raymond James Financial, Inc. set a $35.00 target price on shares of Core-Mark Holding and gave the company a “buy” rating in a research report on Wednesday, August 9th. Finally, BidaskClub lowered shares of Core-Mark Holding from a “hold” rating to a “sell” rating in a research report on Saturday, August 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $38.80.
Shares of Core-Mark Holding (NASDAQ:CORE) traded up $0.13 during trading on Friday, reaching $29.28. 154,185 shares of the company’s stock traded hands, compared to its average volume of 169,865. Core-Mark Holding has a twelve month low of $26.08 and a twelve month high of $44.12. The company has a market capitalization of $1,360.00, a price-to-earnings ratio of 25.49, a PEG ratio of 2.37 and a beta of 0.98. The company has a current ratio of 2.16, a quick ratio of 0.97 and a debt-to-equity ratio of 0.93.
Core-Mark Holding (NASDAQ:CORE) last announced its earnings results on Tuesday, November 7th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.04). Core-Mark Holding had a net margin of 0.27% and a return on equity of 9.90%. The company had revenue of $4.31 billion for the quarter, compared to the consensus estimate of $4.29 billion. analysts anticipate that Core-Mark Holding will post 1.23 EPS for the current year.
Core-Mark Holding announced that its Board of Directors has authorized a share buyback program on Monday, August 28th that allows the company to repurchase $40.00 million in shares. This repurchase authorization allows the business services provider to purchase up to 3.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
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Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Core-Mark Holding by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 4,075,508 shares of the business services provider’s stock worth $134,736,000 after acquiring an additional 71,715 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Core-Mark Holding by 21.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 915,343 shares of the business services provider’s stock worth $30,261,000 after acquiring an additional 164,118 shares during the last quarter. Nicholas Company Inc. lifted its holdings in shares of Core-Mark Holding by 3.8% in the 2nd quarter. Nicholas Company Inc. now owns 141,100 shares of the business services provider’s stock worth $4,664,000 after acquiring an additional 5,145 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Core-Mark Holding by 6.0% in the 2nd quarter. Legal & General Group Plc now owns 129,887 shares of the business services provider’s stock worth $4,292,000 after acquiring an additional 7,358 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in shares of Core-Mark Holding in the 2nd quarter worth approximately $430,000. Hedge funds and other institutional investors own 99.47% of the company’s stock.
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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