Jefferies Downgrades Core-Mark Holding Company to Hold

Brokerage firm Jefferies Downgrades its rating on Core-Mark Holding Company(NASDAQ:CORE). The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by Jefferies was issued on Sep 30, 2016.

In a different note, On Aug 30, 2016, Raymond James said it Maintains its rating on Core-Mark Holding Company. In the research note, the firm Lowers the price-target to $51.00 per share. The shares have been rated ‘Outperform’ by the firm.

Core-Mark Holding Company (CORE) shares turned negative on Tuesdays trading session with the shares closing down -0.38 points or -1.06% at a volume of 2,34,178. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $36.05. The peak price level was also seen at $36.05 while the days lowest was $35. Finally the shares closed at $35.47. The 52-week high of the shares is $49.9989 while the 52-week low is $32.105. According to the latest information available, the market cap of the company is $1,641 M.

Core-Mark Holding Company(CORE) last announced its earnings results on Aug 9, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $3.69B. Analysts had an estimated revenue of $3.53B. Earnings per share were $0.39. Analysts had estimated an EPS of $0.39.

Several Insider Transactions has been reported to the SEC. On Aug 24, 2016, Scott E Mcpherson (SVP – Bus Dev & Strategic Ops) sold 10,000 shares at $45.15 per share price.Also, On Jun 3, 2016, Thomas B Perkins (President and CEO) sold 6,000 shares at $84.47 per share price.On May 17, 2016, Christopher Hobson (SVP of Sales & Marketing) sold 7,164 shares at $84.14 per share price, according to the Form-4 filing with the securities and exchange commission.

Core-Mark Holding Company Inc. (Core-Mark) is a marketer of supply solutions to the convenience retail industry in North America. The Company has two operating segments: the United States and Canada. The Company offers products marketing programs and technology solutions to approximately 35000 customer locations in the United States and Canada. The Company’s product offering includes cigarettes other tobacco products candy snacks fast food groceries fresh products dairy bread beverages general merchandise and health and beauty care products. The Company’s customers include traditional convenience stores drug stores grocery stores liquor stores and other specialty and small format stores that carry convenience products. The Company operates a network of around 29 distribution centers (excluding two distribution facilities it operates as a third party logistics provider). The Company’s 25 distribution centers are located in the United States and four in Canada.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Core-Mark Holding Company - Is it time to Sell?

Top Brokerage Firms are advising their investors on Core-Mark Holding Company. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.