Corelogic (CLGX) 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 report released on Friday.

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 equities research analysts have also recently commented on CLGX. Deutsche Bank dropped their target price on shares of Corelogic from $45.00 to $36.00 and set a “hold” rating for the company in a research report on Monday. Compass Point dropped their target price on shares of Corelogic from $46.00 to $43.00 and set a “neutral” rating for the company in a research report on Friday, October 26th. ValuEngine raised shares of Corelogic from a “sell” rating to a “hold” rating in a research report on Wednesday, November 28th. Robert W. Baird set a $36.00 target price on shares of Corelogic and gave the stock a “hold” rating in a research report on Sunday, December 23rd. Finally, Wells Fargo & Co dropped their target price on shares of Corelogic from $60.00 to $50.00 and set an “outperform” rating for the company in a research report on Friday, October 26th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $47.78.

Corelogic stock traded up $0.29 during trading hours on Friday, reaching $35.15. The stock had a trading volume of 295,100 shares, compared to its average volume of 405,600. The firm has a market cap of $2.81 billion, a PE ratio of 18.03, a price-to-earnings-growth ratio of 1.30 and a beta of 0.85. Corelogic has a 52 week low of $31.87 and a 52 week high of $55.79. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 1.69.

Corelogic (NYSE:CLGX) last announced its quarterly earnings results on Wednesday, October 24th. The business services provider reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.05). Corelogic had a return on equity of 19.41% and a net margin of 9.46%. The firm had revenue of $451.77 million during the quarter, compared to the consensus estimate of $476.84 million. During the same period last year, the business earned $0.72 EPS. Corelogic’s revenue was down 6.5% on a year-over-year basis. As a group, sell-side analysts expect that Corelogic will post 2.36 earnings per share for the current fiscal year.

In related news, CEO Frank Martell sold 10,000 shares of Corelogic stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $40.04, for a total transaction of $400,400.00. Following the completion of the transaction, the chief executive officer now directly owns 272,343 shares of the company’s stock, valued at approximately $10,904,613.72. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John C. Dorman sold 8,723 shares of Corelogic stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $39.74, for a total transaction of $346,652.02. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Corelogic by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 7,566,188 shares of the business services provider’s stock valued at $373,846,000 after acquiring an additional 95,142 shares during the period. Vanguard Group Inc raised its holdings in Corelogic by 1.3% in the third quarter. Vanguard Group Inc now owns 7,566,188 shares of the business services provider’s stock worth $373,846,000 after buying an additional 95,142 shares during the last quarter. Bessemer Group Inc. raised its holdings in Corelogic by 0.7% in the third quarter. Bessemer Group Inc. now owns 3,019,863 shares of the business services provider’s stock worth $149,212,000 after buying an additional 21,096 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Corelogic by 4.0% in the third quarter. JPMorgan Chase & Co. now owns 2,498,697 shares of the business services provider’s stock worth $123,461,000 after buying an additional 96,247 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Corelogic by 3.1% in the third quarter. Dimensional Fund Advisors LP now owns 1,625,386 shares of the business services provider’s stock worth $80,312,000 after buying an additional 48,182 shares during the last quarter. 92.17% of the stock is owned by institutional investors.

About Corelogic

CoreLogic, Inc, together with its subsidiaries, provides property information, insight, analytics, and data-enabled solutions in North America, Western Europe, and the Asia Pacific. The company operates in two segments, Property Intelligence & Risk Management Solutions (PIRM) and Underwriting & Workflow Solutions (UWS).

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