Stephens Analysts Give Core-Mark (CORE) a $25.00 Price Target

Stephens set a $25.00 price objective on Core-Mark (NASDAQ:CORE) in a report published on Wednesday morning. The firm currently has a hold rating on the business services provider’s stock.

A number of other brokerages have also recently weighed in on CORE. Zacks Investment Research upgraded Core-Mark from a hold rating to a buy rating and set a $38.00 price target for the company in a research report on Monday, October 30th. UBS Group upgraded Core-Mark from an outperform rating to a strong-buy rating in a research report on Friday, January 5th. Raymond James Financial upgraded Core-Mark from an outperform rating to a buy rating and set a $31.00 price target for the company in a research report on Friday, January 5th. BMO Capital Markets began coverage on Core-Mark in a research report on Friday, January 5th. They issued a market perform rating and a $33.00 price target for the company. Finally, William Blair began coverage on Core-Mark in a research report on Wednesday, January 3rd. They issued an outperform rating for the company. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Core-Mark has a consensus rating of Hold and a consensus price target of $30.50.

Core-Mark (NASDAQ CORE) opened at $24.73 on Wednesday. Core-Mark has a 52-week low of $23.33 and a 52-week high of $43.50. The firm has a market capitalization of $1,119.68, a price-to-earnings ratio of 21.26, a PEG ratio of 1.77 and a beta of 0.94. The company has a debt-to-equity ratio of 0.93, a current ratio of 2.16 and a quick ratio of 1.12.

Core-Mark (NASDAQ:CORE) last announced its quarterly earnings results on Tuesday, November 7th. The business services provider reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.04). Core-Mark had a net margin of 0.27% and a return on equity of 9.90%. The firm had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.29 billion. sell-side analysts forecast that Core-Mark will post 0.95 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 22nd. Investors of record on Tuesday, November 28th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, November 27th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.62%. This is a positive change from Core-Mark’s previous quarterly dividend of $0.09. Core-Mark’s dividend payout ratio (DPR) is presently 44.44%.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. California Public Employees Retirement System boosted its stake in shares of Core-Mark by 73.3% during the third quarter. California Public Employees Retirement System now owns 18,193 shares of the business services provider’s stock valued at $585,000 after acquiring an additional 7,693 shares during the last quarter. Zions Bancorporation acquired a new stake in shares of Core-Mark during the third quarter valued at $161,000. Royce & Associates LP boosted its stake in shares of Core-Mark by 18.4% during the third quarter. Royce & Associates LP now owns 804,522 shares of the business services provider’s stock valued at $25,857,000 after acquiring an additional 125,000 shares during the last quarter. Pinebridge Investments L.P. boosted its stake in shares of Core-Mark by 4.1% during the third quarter. Pinebridge Investments L.P. now owns 55,643 shares of the business services provider’s stock valued at $1,789,000 after acquiring an additional 2,167 shares during the last quarter. Finally, Brown Advisory Inc. boosted its stake in shares of Core-Mark by 1.4% during the third quarter. Brown Advisory Inc. now owns 2,311,394 shares of the business services provider’s stock valued at $74,288,000 after acquiring an additional 31,689 shares during the last quarter. 98.27% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Core-Mark (NASDAQ:CORE)

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