Core-Mark Holding Company, Inc. (CORE) Receives $39.50 Average Target Price from Analysts
Shares of Core-Mark Holding Company, Inc. (NASDAQ:CORE) have been given an average rating of “Hold” by the eight analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $39.50.
Several research firms have recently issued reports on CORE. ValuEngine lowered Core-Mark Holding from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. BidaskClub upgraded Core-Mark Holding from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Zacks Investment Research upgraded Core-Mark Holding from a “hold” rating to a “strong-buy” rating and set a $42.00 price target on the stock in a research report on Friday, August 4th. Jefferies Group LLC restated a “hold” rating on shares of Core-Mark Holding in a research report on Friday, June 23rd. Finally, Loop Capital restated a “buy” rating and issued a $40.00 price target on shares of Core-Mark Holding in a research report on Monday, July 10th.
Shares of Core-Mark Holding (CORE) traded up 0.24% during midday trading on Thursday, hitting $33.11. The stock had a trading volume of 112,660 shares. The stock has a 50 day moving average price of $29.99 and a 200-day moving average price of $32.61. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 36.79 and a beta of 0.97. Core-Mark Holding has a 52 week low of $26.08 and a 52 week high of $44.12.
Core-Mark Holding (NASDAQ:CORE) last posted its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.11). Core-Mark Holding had a return on equity of 9.70% and a net margin of 0.27%. The company had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the prior year, the business earned $0.39 earnings per share. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. Equities research analysts anticipate that Core-Mark Holding will post $1.24 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Tuesday, August 29th were issued a dividend of $0.09 per share. The ex-dividend date was Friday, August 25th. This represents a $0.36 annualized dividend and a yield of 1.09%. Core-Mark Holding’s dividend payout ratio is presently 40.00%.
Core-Mark Holding declared that its board has authorized a stock buyback program on Monday, August 28th that allows the company to buyback $40.00 million in outstanding shares. This buyback authorization allows the business services provider to purchase up to 3.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
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Hedge funds have recently bought and sold shares of the business. Piedmont Investment Advisors LLC acquired a new stake in shares of Core-Mark Holding in the 2nd quarter valued at about $331,000. State Street Corp raised its stake in shares of Core-Mark Holding by 4.1% in the 2nd quarter. State Street Corp now owns 1,097,819 shares of the business services provider’s stock valued at $36,293,000 after purchasing an additional 43,605 shares during the period. Macquarie Group Ltd. raised its stake in shares of Core-Mark Holding by 7.7% in the 2nd quarter. Macquarie Group Ltd. now owns 970,329 shares of the business services provider’s stock valued at $32,079,000 after purchasing an additional 69,048 shares during the period. Flinton Capital Management LLC raised its stake in shares of Core-Mark Holding by 77.3% in the 2nd 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 during the period. Finally, Third Avenue Management LLC raised its stake in shares of Core-Mark Holding by 23.9% in the 2nd quarter. Third Avenue Management LLC now owns 91,661 shares of the business services provider’s stock valued at $3,031,000 after purchasing an additional 17,699 shares during the period. Hedge funds and other institutional investors own 98.27% of the company’s stock.
Core-Mark Holding 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.
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