Jefferies Reiterates a Hold Rating on Core-Mark Holding Company

By Ryan Adsit

In a report released yesterday, Christopher Mandeville from Jefferies reiterated a Hold rating on Core-Mark Holding Company (NASDAQ: CORE), with a price target of $33. The company’s shares closed yesterday at $33.49, close to its 52-week low of $31.65.

Mandeville observed:

“CORE reported underwhelming 3Q16 results as expenses related to new business ran high on the quarter. Though a high quality problem in our view, resulting deleverage was notable and the shortfall places a greater burden on 4Q16 to meet full yr. guidance.”

According to, Mandeville is a 2-star analyst with an average return of -1.5% and a 45.5% success rate. Mandeville covers the Services sector, focusing on stocks such as United Natural Foods, Vitamin Shoppe Inc, and GNC Holdings Inc.

Core-Mark Holding Company has an analyst consensus of Hold.

Based on Core-Mark Holding Company’s latest earnings report from December 31, the company posted quarterly revenue of $2.82B and quarterly net profit of $17.7M. In comparison, last year the company earned revenue of $2.99B and had a net profit of $15.1M.

Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is negative on the stock. Most recently, in August 2016, Scott Mcpherson, the SVP – Bus Dev & Strategic Ops of CORE sold 10,000 shares for a total of $451,324.

Core-Mark Holding Co., Inc. engages in distributing and marketing of consumer goods. It provides sales, marketing, distribution and logistics services across the U.S. and Canada. The company offers a full range of products, marketing programs and technology solutions to customer locations across the U.S. and Canada. The company’s customers include traditional convenience stores, drug, grocery and specialty stores and other small format retailers that sell consumer packaged goods. Its product offering includes fast food, candy, snacks, groceries, fresh products, dairy, bread, beverages, other tobacco products, general merchandise and health and beauty care products. Core-Mark Holding was founded in 1888 and is headquartered in South San Francisco, CA.