Core-Mark (CORE) Given Hold Rating at BMO Capital Markets
BMO Capital Markets restated their hold rating on shares of Core-Mark (NASDAQ:CORE) in a report published on Wednesday. BMO Capital Markets currently has a $26.00 price target on the business services provider’s stock.
CORE has been the subject of several other research reports. Zacks Investment Research lowered shares of Core-Mark from a hold rating to a sell rating in a research note on Tuesday, January 9th. BidaskClub lowered shares of Core-Mark from a hold rating to a sell rating in a research note on Friday, December 22nd. Loop Capital set a $31.00 price target on shares of Core-Mark and gave the stock a buy rating in a research note on Monday, January 8th. They noted that the move was a valuation call. UBS Group upgraded shares of Core-Mark from an outperform rating to a strong-buy rating in a research note on Friday, January 5th. Finally, Raymond James Financial upgraded shares of Core-Mark from an outperform rating to a buy rating and set a $31.00 price objective for the company in a research note on Friday, January 5th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Core-Mark currently has a consensus rating of Hold and a consensus target price of $30.50.
Shares of Core-Mark (NASDAQ:CORE) opened at $24.73 on Wednesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.12 and a current ratio of 2.16. Core-Mark has a one year low of $23.33 and a one year high of $43.50. The stock has a market cap of $1,142.30, a P/E ratio of 21.69, a PEG ratio of 1.80 and a beta of 0.94.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 22nd. Investors of record on Tuesday, November 28th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.62%. This is a positive change from Core-Mark’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Monday, November 27th. Core-Mark’s payout ratio is currently 44.44%.
A number of institutional investors have recently added to or reduced their stakes in the stock. California Public Employees Retirement System grew its stake in Core-Mark by 73.3% in the 3rd quarter. California Public Employees Retirement System now owns 18,193 shares of the business services provider’s stock valued at $585,000 after buying an additional 7,693 shares in the last quarter. Zions Bancorporation purchased a new position in Core-Mark in the 3rd quarter valued at approximately $161,000. Royce & Associates LP grew its stake in Core-Mark by 18.4% in the 3rd quarter. Royce & Associates LP now owns 804,522 shares of the business services provider’s stock valued at $25,857,000 after buying an additional 125,000 shares in the last quarter. Pinebridge Investments L.P. grew its stake in Core-Mark by 4.1% in the 3rd quarter. Pinebridge Investments L.P. now owns 55,643 shares of the business services provider’s stock valued at $1,789,000 after buying an additional 2,167 shares in the last quarter. Finally, Brown Advisory Inc. grew its stake in Core-Mark by 1.4% in the 3rd quarter. Brown Advisory Inc. now owns 2,311,394 shares of the business services provider’s stock valued at $74,288,000 after buying an additional 31,689 shares in the last quarter. Institutional investors and hedge funds own 98.27% of the company’s stock.
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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.
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