BMO Capital Markets Initiates Coverage on Core-Mark (CORE)

BMO Capital Markets started coverage on shares of Core-Mark (NASDAQ:CORE) in a research report released on Friday morning, MarketBeat reports. The firm issued a market perform rating and a $33.00 target price on the business services provider’s stock.

Other analysts also recently issued reports about the stock. Jefferies Group reissued a hold rating and set a $32.00 price target on shares of Core-Mark in a report on Friday, November 10th. William Blair assumed coverage on shares of Core-Mark in a report on Wednesday, January 3rd. They set an outperform rating on the stock. Zacks Investment Research raised shares of Core-Mark from a strong sell rating to a hold rating in a report on Tuesday, January 2nd. Finally, BidaskClub downgraded shares of Core-Mark from a hold rating to a sell rating in a report on Friday, December 22nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Hold and an average target price of $35.67.

Core-Mark (CORE) traded down $7.23 during trading hours on Friday, hitting $24.18. 1,916,600 shares of the stock were exchanged, compared to its average volume of 783,200. Core-Mark has a 1 year low of $23.95 and a 1 year high of $43.94. The firm has a market capitalization of $1,170.00, a price-to-earnings ratio of 27.17, a P/E/G ratio of 1.83 and a beta of 0.95. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.16 and a quick ratio of 1.12.

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

The company also recently declared 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. The ex-dividend date of this dividend was Monday, November 27th. This is an increase from Core-Mark’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 1.65%. Core-Mark’s dividend payout ratio is 44.94%.

Institutional investors and hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new position in Core-Mark during the third quarter valued at $117,000. Riverhead Capital Management LLC lifted its holdings in Core-Mark by 81.7% during the second quarter. Riverhead Capital Management LLC now owns 3,997 shares of the business services provider’s stock valued at $132,000 after purchasing an additional 1,797 shares in the last quarter. Flinton Capital Management LLC lifted its holdings in Core-Mark by 77.3% during the second quarter. Flinton Capital Management LLC now owns 4,368 shares of the business services provider’s stock valued at $144,000 after purchasing an additional 1,904 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Core-Mark by 17.7% during the second quarter. Victory Capital Management Inc. now owns 4,484 shares of the business services provider’s stock valued at $148,000 after purchasing an additional 673 shares in the last quarter. Finally, Zions Bancorporation purchased a new position in Core-Mark during the third quarter valued at $161,000. 98.27% of the stock is currently owned by institutional investors and hedge funds.

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Core-Mark 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.

Analyst Recommendations for Core-Mark (NASDAQ:CORE)

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