On Jan. 07, Miller Christopher M divested U.S. $76,719 in shares of Core-Mark Holding Company Inc.. The SVP, CFO sold 2,344 shares at a price per share of $32.73. The transaction decreased this specific insider’s holdings to 42,829 shares worth around $1.43 million at present.
Jefferies took its Core-Mark Holding Company Inc. [CORE] rating to the equivalent of a Hold from a Buy, and the price target to $35 from $39, in a research note dated November 20, 2020. That figure represents around a 4.91% premium from where the company’s shares closed on Thursday. Other analysts also revised their coverage, with Jefferies’s analysts downgrading the shares from “a Buy” rating to “a Hold” rating in a research note to investors issued in mid November. Meanwhile, Jefferies had raised its rating on CORE to “Buy” from the earlier “Hold”, in a research note produced for clients February 11, 2020. In addition, there was a downgrade from Sidoti on January 15, 2019. The rater changed CORE from “a Buy” to “a Neutral”.
Is Core-Mark Holding Company Inc. [NASDAQ:CORE] a Good Buy Right Now?
It should be noted that CORE technical indicators for short, intermediate as well as long term progress have placed an overall average of 72% as Buy. The average signal changed from 8% Sell in the last week and compares with 80% Buy in the past month. Data from Core-Mark Holding Company Inc.’s Trend Spotter indicated that the signals were Strongest. The stock current average is 0.17 million shares in the past 20 days and the short term average signal indicates a Hold. In the last 50 days, the average trading volume was 0.2 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.22 million shares.
CORE Price Performance
On Wall Street, Core-Mark Holding Company Inc. [NASDAQ:CORE] finished Thursday’s session up 0.91% at $33.28. The stock went up to $33.64 at the same session while its lowest single day price was $32.62. In the last five days, it saw a rise of about 13.27%, Core-Mark Holding Company Inc. shares gained by almost 13.31% since the beginning of the year. However, the share price has dropped to as low as -7.62% below its one year high. On 01/07/21, the company shares recorded $33.64, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $28.96. The company’s shares have inclined by 29.39% in the past year. The 50-day SMA achieved is $31.16 while the 200-day SMA is $28.87. Volume dropped to 0.21 million from 0.33 million in the previous session.
Core-Mark Holding Company Inc. [CORE] Valuation Measures
Notably, Core-Mark Holding Company Inc. [CORE] stock cannot be classified as a good candidate in the listing of underestimated low-priced Food Distribution companies to purchase soonest possible with the prevailing 12-month PE ratio of 25.04. The measure means the stock is exchanging at a premium as compared to the 18.66x trailing earnings of the industry. It can be helpful for investors to consider historical price-sales ratio, more specifically, a 0.09 PS value ratio is reported for the last one year of reported earnings. That is lower than the industry average of 0.46 which means CORE serve an unattractive investment opportunity compared to its competitors.
CORE Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 32.72 level, and in case of violation of this particular level, it will cause more drop to 32.16 level. On the upper level, 34.20 is still the key resistance. The stock may increase to the subsequent resistance at 33.74. The Relative Strength Index (RSI) pinned on the 14-day chart is 66.94, implying a neutral technical stance while the MACD stands at 1.87, meaning price will increase in the next trading period. Percent R indicator moved to 7.69%, implying bullish price movement. Stochastic %K at 85.47% suggest selling the stock.
What is the short interest in Core-Mark Holding Company Inc.?
Short interest in the Core-Mark Holding Company Inc. stock has surged, increasing by 34500.0 shares to total 0.6 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 0.63 million, data from Yahoo Finance shows. The decrease of -5.78% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 1.88% of the overall float for the stock.
Core-Mark Holding Company Inc.’s Biggest Shareholders: Who Owns Core-Mark Holding Company Inc. [CORE]?
Filings by BlackRock Fund Advisors showed that the firm now holds a total of 6,137,892 shares or roughly 13.66% of the outstanding CORE shares. This means their shares have reduced by -330,997 from the 6,137,892 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, The Vanguard Group, Inc. updated stake is worth $139,915,595. Details in the latest 13F filings reveal that Victory Capital Management, Inc. disposed off their -1.23% stake valued at $97,306,375 while ClearBridge Investments LLC cut theirs at $87,695,457. During the last quarter, Victory Capital Management, Inc. liquidated -38,791 of its shares in Core-Mark Holding Company Inc. while ClearBridge Investments LLC sold -3,125 shares. The Dimensional Fund Advisors LP’s holdings currently number 2,277,311 shares at $75788910.08. According to the firm’s last 13F report, Macquarie Investment Management B shares in the company at filing stood at 1,426,555 shares, roughly $44,494,250.
CORE Earnings Forecast For The Current Quarter
Core-Mark Holding Company Inc. [CORE] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $4.16B and an earnings per share of $0.32 for Dec 2020. Looking further ahead, the company is expected to report revenue of $3.96B at an EPS of $0.18 for Mar 2021. The estimates represent upside of 2.00% and 14.34% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
CORE Earnings Estimates For The Current Year
For the financial year, Core-Mark Holding Company Inc. [NASDAQ:CORE] is expected to bring in revenue of $16.86B. The returns are nearly $190.0 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at 1.65, lower than that of FY19 by -$0.04. Estimates put this year’s earnings growth at -2.40%, 14.50% for the next, and at an annual 3.60% over the next 5-year period. As for sales, forecasts are for an increase of 1.20% in the current fiscal year and a further 2.00% over the following year.
What are analyst thoughts on Core-Mark Holding Company Inc.?
Looking forward to the Core-Mark Holding Company Inc. share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Core-Mark Holding Company Inc. stock at $34.50 within the next 12 months, which represents almost 3.54 per cent growth from its previous closing price of $33.28. The highest analysts’ target for Core-Mark Holding Company Inc. stock projections is $40.00 and the lowest one is $34.00. Still, 4 analysts sharing their consensus rating for CORE stock in 2021 agree that it is an Overweight.