CoreLogic, Inc. (CLGX) Downgraded 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 report released on Thursday.
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. “
CLGX has been the subject of several other research reports. Barclays PLC raised their price objective 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. BidaskClub downgraded shares of CoreLogic from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Robert W. Baird raised their price objective 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. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $46.00 price objective on shares of CoreLogic in a research note on Thursday, July 27th. Finally, Oppenheimer Holdings, Inc. raised their price objective 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $45.00.
CoreLogic (CLGX) traded down 0.07% during midday trading on Thursday, reaching $45.37. The company had a trading volume of 294,484 shares. CoreLogic has a 52 week low of $34.59 and a 52 week high of $45.99. The firm has a 50-day moving average price of $43.61 and a 200-day moving average price of $40.92. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of 41.25 and a beta of 0.97.
CoreLogic (NYSE:CLGX) last announced its quarterly earnings data on Tuesday, July 25th. The business services provider reported $0.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.06. The business had revenue of $473.98 million during the quarter, compared to the consensus estimate of $478.72 million. CoreLogic had a net margin of 4.99% and a return on equity of 17.07%. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.65 earnings per share. Analysts expect that CoreLogic will post $2.33 EPS for the current fiscal year.
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In other news, Director Mary Lee Widener sold 1,250 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $41.65, for a total transaction of $52,062.50. Following the transaction, the director now directly owns 10,354 shares of the company’s stock, valued at $431,244.10. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Stergios Theologides sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $44.00, for a total transaction of $220,000.00. Following the transaction, the general counsel now directly owns 63,806 shares in the company, valued at $2,807,464. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,410 shares of company stock worth $490,997. Corporate insiders own 1.20% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. CrestPoint Capital Management LLC bought a new position in shares of CoreLogic during the first quarter worth approximately $208,000. Karp Capital Management Corp acquired a new position in shares of CoreLogic during the first quarter valued at about $573,000. Vanguard Group Inc. raised its position in shares of CoreLogic by 4.4% in the first quarter. Vanguard Group Inc. now owns 7,213,386 shares of the business services provider’s stock valued at $293,729,000 after buying an additional 301,853 shares during the last quarter. Capstone Asset Management Co. raised its position in shares of CoreLogic by 1.5% in the first quarter. Capstone Asset Management Co. now owns 11,552 shares of the business services provider’s stock valued at $470,000 after buying an additional 170 shares during the last quarter. Finally, Oxford Asset Management raised its position in shares of CoreLogic by 14.7% in the first quarter. Oxford Asset Management now owns 89,360 shares of the business services provider’s stock valued at $3,639,000 after buying an additional 11,459 shares during the last quarter. 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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