Today’s Price Action: Core-Mark Holding Company, Inc. Just Reaches Yearly Low?

Today's Price Action: Core Mark Holding Company, Inc. Just Reaches Yearly Low?

The stock of Core-Mark Holding Company, Inc. (NASDAQ:CORE) hit a new 52-week low and has $30.85 target or 6.00% below today’s $32.82 share price. The 5 months bearish chart indicates high risk for the $1.52B company. The 1-year low was reported on Nov, 7 by Barchart.com. If the $30.85 price target is reached, the company will be worth $91.20 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 53,765 shares traded hands. Core-Mark Holding Company, Inc. (NASDAQ:CORE) has declined 14.94% since April 5, 2016 and is downtrending. It has underperformed by 16.90% the S&P500.

Core-Mark Holding Company, Inc. (NASDAQ:CORE) Ratings Coverage

Out of 4 analysts covering Core-Mark Holding Company (NASDAQ:CORE), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. Core-Mark Holding Company has been the topic of 10 analyst reports since August 7, 2015 according to StockzIntelligence Inc. As per Friday, April 1, the company rating was maintained by Jefferies. The firm has “Outperform” rating given on Tuesday, August 30 by Raymond James. The rating was downgraded by Jefferies on Friday, September 30 to “Hold”. On Wednesday, October 28 the stock rating was maintained by Stephens with “Overweight”. The rating was maintained by Raymond James on Thursday, October 8 with “Outperform”.

According to Zacks Investment Research, “Core-Mark is one of the largest broad-line, full-service wholesale distributors of packaged consumer products to the convenience retail industry in North America. The Core-Mark provides distribution and logistics services as well as marketing programs to retail locations in states and five Canadian provinces through distribution centers. Core-Mark services traditional convenience retailers, grocers, mass merchandisers, drug, liquor and specialty stores, and other stores that carry consumer packaged goods.”

Insitutional Activity: The institutional sentiment decreased to 1.18 in Q2 2016. Its down 0.01, from 1.19 in 2016Q1. The ratio is negative, as 8 funds sold all Core-Mark Holding Company, Inc. shares owned while 69 reduced positions. 35 funds bought stakes while 56 increased positions. They now own 85.35 million shares or 276.22% more from 22.69 million shares in 2016Q1.
Mckinley Management Ltd Company Delaware accumulated 0% or 120 shares. Teachers Advsrs Incorporated owns 72,706 shares or 0.01% of their US portfolio. Diam Limited holds 4,114 shares or 0% of its portfolio. Fincl Bank Of Montreal Can holds 0% of its portfolio in Core-Mark Holding Company, Inc. (NASDAQ:CORE) for 3,138 shares. Moreover, Td Asset Mgmt has 0% invested in Core-Mark Holding Company, Inc. (NASDAQ:CORE) for 25,600 shares. The New Jersey-based Prudential Inc has invested 0.01% in Core-Mark Holding Company, Inc. (NASDAQ:CORE). Smithfield Tru accumulated 3,292 shares or 0.03% of the stock. Goldman Sachs Gru holds 0.02% of its portfolio in Core-Mark Holding Company, Inc. (NASDAQ:CORE) for 1.07M shares. The Illinois-based First Trust Advisors Lp has invested 0% in Core-Mark Holding Company, Inc. (NASDAQ:CORE). The Massachusetts-based Loomis Sayles Limited Partnership has invested 0.05% in Core-Mark Holding Company, Inc. (NASDAQ:CORE). Citigroup owns 26,500 shares or 0% of their US portfolio. Moreover, Neumeier Poma Invest Counsel Lc has 1.96% invested in Core-Mark Holding Company, Inc. (NASDAQ:CORE) for 264,800 shares. Oregon Pub Employees Retirement Fund last reported 0.01% of its portfolio in the stock. Commonwealth Equity Services holds 4,377 shares or 0% of its portfolio. Jpmorgan Chase has 402,843 shares for 0% of their US portfolio.

Insider Transactions: Since May 13, 2016, the stock had 0 insider buys, and 7 sales for $2.35 million net activity. The insider Tepner Harvey L sold 1,419 shares worth $123,453. 7,164 shares with value of $602,785 were sold by Hobson Christopher on Friday, May 13. 3,000 Core-Mark Holding Company, Inc. (NASDAQ:CORE) shares with value of $271,004 were sold by ALLEN ROBERT A. Another trade for 3,400 shares valued at $307,054 was made by Loretz Congdon Stacy on Wednesday, June 8. The insider Perkins Thomas B sold $506,820. $451,376 worth of shares were sold by McPherson Scott E on Monday, August 22.

More news for Core-Mark Holding Company, Inc. (NASDAQ:CORE) were recently published by: Globenewswire.com, which released: “Core-Mark Holding Company, Inc. (Nasdaq: CORE) to Ring The Nasdaq Stock Market …” on September 06, 2016. Investorplace.com‘s article titled: “Why Gilead Sciences, Inc. (GILD), Valeant Pharmaceuticals Intl Inc (VRX) and …” and published on August 29, 2016 is yet another important article.

CORE Company Profile

Core-Mark Holding Company, Inc., incorporated on August 20, 2004, is a wholesale distributor to the convenience retail industry in North America. The Firm provides sales, marketing, distribution and logistics services to over 36,500 customer locations across the United States and Canada through over 30 distribution centers. The Company’s divisions include the United States, Canada and Corporate. The Company’s primary customer base consists of traditional convenience stores, as well as alternative outlets selling consumer packaged goods. The Company’s traditional convenience store clients include various national and super-regional convenience store operators, as well as independently owned convenience stores. The Company’s alternative outlet clients include a range of store formats, including grocery stores, drug stores, liquor stores, cigarette and tobacco shops, hotel gift shops, military exchanges, college and corporate campuses, casinos, hardware stores, airport concessions, and other specialty and small format stores that carry convenience products.

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