CoreLogic (CLGX) Rating Lowered to Sell at Zacks Investment Research
CoreLogic (NYSE:CLGX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.
According to Zacks, “CoreLogic, Inc., formerly known as First American Corp., is a provider of consumer, financial and property information, analytics and services to business and government. The Company combines public, contributory and proprietary data to develop predictive decision analytics and provide business services. CoreLogic has built databases for U.S. real estate, mortgage application, fraud, and loan performance and is also a provider of mortgage and automotive credit reporting, property tax, valuation, flood determination, and geospatial analytics and services. The Company serves various industries, including automotive, cable, financial services, employment, geospatial information service, insurance, legal, oil and gas, real estate, retail, utility, and telecommunications. CoreLogic, Inc. is headquartered in Santa Ana, California. “
CLGX has been the topic of a number of other research reports. BidaskClub cut shares of CoreLogic from a “buy” rating to a “hold” rating in a research note on Friday, September 15th. Piper Jaffray Companies reiterated a “hold” rating and issued a $50.00 price target on shares of CoreLogic in a research note on Friday, October 27th. Barclays upped their price target on shares of CoreLogic from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, October 27th. William Blair cut shares of CoreLogic from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 8th. Finally, SunTrust Banks cut shares of CoreLogic from a “buy” rating to a “hold” rating and set a $46.00 price target on the stock. in a research note on Tuesday, November 28th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $48.43.
Shares of CoreLogic (CLGX) opened at $45.64 on Tuesday. CoreLogic has a fifty-two week low of $34.59 and a fifty-two week high of $49.30. The company has a market cap of $3,874.86, a price-to-earnings ratio of 43.06, a PEG ratio of 2.10 and a beta of 0.84. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 1.69.
CoreLogic (NYSE:CLGX) last announced its earnings results on Wednesday, October 25th. The business services provider reported $0.72 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.01. CoreLogic had a net margin of 4.86% and a return on equity of 17.10%. The firm had revenue of $483.10 million for the quarter, compared to analysts’ expectations of $490.09 million. During the same quarter in the previous year, the business posted $0.73 EPS. The company’s quarterly revenue was down 7.8% on a year-over-year basis. sell-side analysts forecast that CoreLogic will post 2.04 earnings per share for the current year.
In other CoreLogic news, Director Mary Lee Widener sold 900 shares of the business’s stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $46.70, for a total value of $42,030.00. Following the completion of the transaction, the director now owns 8,434 shares of the company’s stock, valued at approximately $393,867.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.20% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the business. ETF Managers Group LLC purchased a new position in CoreLogic in the 2nd quarter worth about $211,000. Invictus RG increased its position in shares of CoreLogic by 98.4% during the 3rd quarter. Invictus RG now owns 2,633 shares of the business services provider’s stock valued at $122,000 after purchasing an additional 1,306 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of CoreLogic by 9.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,351 shares of the business services provider’s stock valued at $145,000 after purchasing an additional 283 shares during the last quarter. Covington Capital Management purchased a new stake in shares of CoreLogic during the 2nd quarter valued at about $202,000. Finally, Calamos Advisors LLC purchased a new stake in shares of CoreLogic during the 3rd quarter valued at about $218,000. 88.80% of the stock is owned by institutional investors and hedge funds.
CoreLogic, Inc is a provider of property information, analytics and data-enabled services. The Company provides detailed coverage of property, mortgages and other encumbrances, property risk and replacement cost, consumer credit, tenancy, location, hazard risk and related performance information. Its segments include Property Intelligence (PI), Risk Management and Work Flow (RMW), and Corporate.
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