CoreLogic, Inc. (CLGX) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of CoreLogic, Inc. (NYSE:CLGX) from a hold rating to a buy rating in a research report report published on Thursday. Zacks Investment Research currently has $51.00 target price on the business services provider’s stock.
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 analysts have also recently commented on CLGX. Barclays PLC boosted their price target on CoreLogic from $48.00 to $50.00 and gave the stock an overweight rating in a research report on Friday, June 9th. Robert W. Baird boosted their price target on CoreLogic from $42.00 to $44.00 and gave the stock a neutral rating in a research report on Tuesday, June 13th. BidaskClub upgraded CoreLogic from a hold rating to a buy rating in a research report on Wednesday, June 28th. Finally, Oppenheimer Holdings, Inc. boosted their price target on CoreLogic from $45.00 to $50.00 and gave the stock an outperform rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $45.00.
CoreLogic (CLGX) opened at 45.62 on Thursday. The company has a 50 day moving average of $43.43 and a 200-day moving average of $40.71. CoreLogic has a 12-month low of $34.59 and a 12-month high of $45.99. The stock has a market capitalization of $3.85 billion, a price-to-earnings ratio of 41.89 and a beta of 0.98.
CoreLogic (NYSE:CLGX) last issued its quarterly earnings results on Tuesday, July 25th. The business services provider reported $0.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.06. CoreLogic had a return on equity of 17.07% and a net margin of 4.99%. The firm had revenue of $473.98 million during the quarter, compared to analysts’ expectations of $478.72 million. During the same period in the previous year, the business earned $0.65 earnings per share. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, equities research analysts forecast that CoreLogic will post $2.31 earnings per share for the current year.
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In other CoreLogic news, Director Mary Lee Widener sold 1,250 shares of the company’s stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $41.65, for a total value of $52,062.50. Following the completion of the sale, the director now directly owns 10,354 shares in the company, valued at approximately $431,244.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director J David Chatham sold 3,760 shares of the company’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $42.00, for a total value of $157,920.00. Following the completion of the sale, the director now owns 4,770 shares of the company’s stock, valued at $200,340. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,410 shares of company stock valued at $490,997. 1.20% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. bought a new stake in shares of CoreLogic during the fourth quarter valued at about $125,000. Renaissance Technologies LLC boosted its stake in shares of CoreLogic by 824.1% in the fourth quarter. Renaissance Technologies LLC now owns 168,986 shares of the business services provider’s stock valued at $6,224,000 after buying an additional 150,700 shares during the last quarter. Norges Bank bought a new stake in shares of CoreLogic during the fourth quarter valued at about $30,208,000. Copper Rock Capital Partners LLC boosted its stake in shares of 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 valued at $25,448,000 after buying an additional 10,658 shares during the last quarter. Finally, CrestPoint Capital Management LLC bought a new stake in shares of CoreLogic during the first quarter valued at about $208,000. Institutional investors own 89.80% of the company’s stock.
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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