CoreLogic Inc. (CLGX) Rating Lowered to Hold at Zacks Investment Research
CoreLogic Inc. (NYSE:CLGX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued 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. “
Several other analysts also recently weighed in on the company. Barclays PLC lifted their target price on CoreLogic from $44.00 to $46.00 and gave the stock an “overweight” rating in a research report on Thursday, July 7th. Robert W. Baird downgraded CoreLogic from an “outperform” rating to a “neutral” rating and lifted their target price for the stock from $40.00 to $41.00 in a research report on Wednesday, July 27th. Keefe, Bruyette & Woods decreased their target price on CoreLogic from $44.50 to $43.00 and set a “market perform” rating for the company in a research report on Monday, September 19th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $45.00 target price on shares of CoreLogic in a research report on Friday, July 22nd. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and set a $48.00 target price on shares of CoreLogic in a research report on Friday, August 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $43.72.
Shares of CoreLogic (NYSE:CLGX) opened at 39.80 on Tuesday. CoreLogic has a 12 month low of $30.73 and a 12 month high of $43.43. The company’s 50-day moving average is $39.99 and its 200 day moving average is $37.75. The stock has a market capitalization of $3.51 billion, a P/E ratio of 26.59 and a beta of 1.06.
CoreLogic (NYSE:CLGX) last released its earnings results on Monday, July 25th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.03. CoreLogic had a return on equity of 14.56% and a net margin of 7.73%. The business earned $500 million during the quarter, compared to the consensus estimate of $485.55 million. During the same period last year, the company earned $0.55 earnings per share. The business’s revenue for the quarter was up 29.5% compared to the same quarter last year. Equities research analysts predict that CoreLogic will post $2.28 earnings per share for the current year.
In related news, EVP Barry M. Sando sold 1,113 shares of CoreLogic stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $39.50, for a total value of $43,963.50. Following the completion of the sale, the executive vice president now directly owns 154,341 shares in the company, valued at $6,096,469.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Barry M. Sando sold 45,387 shares of CoreLogic stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $39.50, for a total value of $1,792,786.50. Following the completion of the sale, the executive vice president now owns 159,615 shares of the company’s stock, valued at $6,304,792.50. The disclosure for this sale can be found here. 2.50% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd purchased a new stake in CoreLogic during the first quarter valued at $904,000. UBS Group AG increased its stake in CoreLogic by 82.7% in the first quarter. UBS Group AG now owns 19,270 shares of the company’s stock valued at $668,000 after buying an additional 8,721 shares during the last quarter. Rafferty Asset Management LLC increased its stake in CoreLogic by 49.3% in the first quarter. Rafferty Asset Management LLC now owns 11,908 shares of the company’s stock valued at $413,000 after buying an additional 3,932 shares during the last quarter. State Street Corp increased its stake in CoreLogic by 0.5% in the first quarter. State Street Corp now owns 2,389,973 shares of the company’s stock valued at $82,929,000 after buying an additional 12,478 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in CoreLogic by 7.3% in the first quarter. Bessemer Group Inc. now owns 2,579,565 shares of the company’s stock valued at $89,511,000 after buying an additional 176,400 shares during the last quarter. Hedge funds and other institutional investors own 85.59% of the company’s stock.
CoreLogic Company Profile
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. It operates through two segments: Property Intelligence and Risk Management and Work Flow.
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