CoreLogic, Inc. (CLGX) Stock Rating Lowered by Zacks Investment Research
Zacks Investment Research lowered shares of CoreLogic, Inc. (NYSE:CLGX) from a buy rating to a hold rating in a research note published on Friday morning.
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. “
Several other brokerages also recently weighed in on CLGX. Keefe, Bruyette & Woods reissued a hold rating and issued a $46.00 target price on shares of CoreLogic in a research note on Thursday, July 27th. Oppenheimer Holdings, Inc. raised their price target on shares of CoreLogic from $45.00 to $50.00 and gave the stock an outperform rating in a research note on Thursday, July 27th. BidaskClub downgraded shares of CoreLogic from a buy rating to a hold rating in a research note on Tuesday, July 25th. Barclays PLC raised their price target on shares of CoreLogic from $48.00 to $50.00 and gave the stock an overweight rating in a research note on Friday, June 9th. Finally, Robert W. Baird raised their price target on shares of CoreLogic from $42.00 to $44.00 and gave the stock a neutral rating in a research note on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $45.00.
CoreLogic (CLGX) opened at 45.55 on Friday. The stock has a market cap of $3.84 billion, a PE ratio of 41.83 and a beta of 0.98. The firm has a 50 day moving average of $43.52 and a 200-day moving average of $40.85. CoreLogic has a 52-week low of $34.59 and a 52-week high of $45.99.
CoreLogic (NYSE:CLGX) last announced its earnings results on Tuesday, July 25th. The business services provider reported $0.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.06. CoreLogic had a net margin of 4.99% and a return on equity of 17.07%. The business had revenue of $473.98 million for the quarter, compared to the consensus estimate of $478.72 million. During the same quarter in the prior year, the firm posted $0.65 earnings per share. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. Equities analysts anticipate that CoreLogic will post $2.31 earnings per share for the current fiscal year.
In other CoreLogic news, General Counsel Stergios Theologides sold 5,000 shares of the firm’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $44.00, for a total transaction of $220,000.00. Following the transaction, the general counsel now owns 63,806 shares of the company’s stock, valued at approximately $2,807,464. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mary Lee Widener sold 1,000 shares of the firm’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $42.79, for a total transaction of $42,790.00. Following the transaction, the director now directly owns 9,354 shares in the company, valued at approximately $400,257.66. The disclosure for this sale can be found here. Insiders have sold a total of 11,410 shares of company stock worth $490,997 in the last three months. Insiders own 1.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. acquired a new position in CoreLogic during the fourth quarter worth approximately $125,000. Renaissance Technologies LLC increased its position in CoreLogic by 824.1% in the fourth quarter. Renaissance Technologies LLC now owns 168,986 shares of the business services provider’s stock worth $6,224,000 after buying an additional 150,700 shares during the period. Norges Bank acquired a new position in CoreLogic during the fourth quarter worth approximately $30,208,000. Copper Rock Capital Partners LLC increased its position in CoreLogic by 1.7% in the first quarter. Copper Rock Capital Partners LLC now owns 629,277 shares of the business services provider’s stock worth $25,448,000 after buying an additional 10,658 shares during the period. Finally, CrestPoint Capital Management LLC acquired a new position in CoreLogic during the first quarter worth approximately $208,000. 89.80% of the stock is currently 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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