Core-Mark Holding Company (CORE) is Downgraded by Jefferies to Hold, Price Target at $33

Core-Mark Holding Company (CORE) was Downgraded by Jefferies to ” Hold” and the brokerage firm has set the Price Target at $33. Earlier the firm had a rating of “Buy ” on the company shares. Jefferies advised their investors in a research report released on Sep 30, 2016.

On the company’s financial health, Core-Mark Holding Company reported $0.39 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 9, 2016. Analyst had a consensus of $0.38. The company had revenue of $3687.40 million for the quarter, compared to analysts expectations of $3479.43 million. The company’s revenue was up 31.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS.

Core-Mark Holding Company opened for trading at $36.53 and hit $36.68 on the upside on Tuesday, eventually ending the session at $36.64, with a gain of 0.66% or 0.24 points. The heightened volatility saw the trading volume jump to 2,14,759 shares. Company has a market cap of $1,695 M.

In a different news, on Aug 24, 2016, Scott E Mcpherson (SVP – Bus Dev & Strategic Ops) sold 10,000 shares at $45.15 per share price. According to the SEC, 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.

Core-Mark Holding Company

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