BidaskClub Upgrades CoreLogic, Inc. (CLGX) to “Buy”
BidaskClub upgraded shares of CoreLogic, Inc. (NYSE:CLGX) from a hold rating to a buy rating in a report issued on Thursday morning.
CLGX has been the subject of several other research reports. Zacks Investment Research raised CoreLogic from a hold rating to a buy rating and set a $51.00 price objective for the company in a research note on Wednesday, August 2nd. Oppenheimer Holdings, Inc. upped their price objective on CoreLogic from $45.00 to $50.00 and gave the company an outperform rating in a research note on Thursday, July 27th. Barclays PLC upped their price objective on CoreLogic from $48.00 to $50.00 and gave the company an overweight rating in a research note on Friday, June 9th. Robert W. Baird upped their price objective on CoreLogic from $42.00 to $44.00 and gave the company a neutral rating in a research note on Tuesday, June 13th. Finally, Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $46.00 price objective on shares of CoreLogic in a research note on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $45.00.
Shares of CoreLogic (CLGX) opened at 45.99 on Thursday. The firm has a market capitalization of $3.88 billion, a price-to-earnings ratio of 42.23 and a beta of 0.97. The stock has a 50 day moving average of $44.77 and a 200-day moving average of $42.09. CoreLogic has a 52 week low of $34.59 and a 52 week high of $46.89.
CoreLogic (NYSE:CLGX) last released its quarterly earnings data on Tuesday, July 25th. The business services provider reported $0.72 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.06. CoreLogic had a return on equity of 17.07% and a net margin of 4.99%. The company had revenue of $473.98 million during the quarter, compared to the consensus estimate of $478.72 million. During the same quarter in the prior year, the firm posted $0.65 earnings per share. The firm’s revenue was down 5.2% compared to the same quarter last year. Analysts expect that CoreLogic will post $2.33 earnings per share for the current year.
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In related news, Director Mary Lee Widener sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $42.79, for a total value of $42,790.00. Following the sale, the director now directly owns 9,354 shares in the company, valued at $400,257.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Stergios Theologides sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $44.00, for a total value of $220,000.00. Following the completion of the sale, the general counsel now owns 63,806 shares in the company, valued at $2,807,464. The disclosure for this sale can be found here. Insiders sold 13,650 shares of company stock worth $610,034 over the last quarter. 1.20% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in CLGX. Karp Capital Management Corp bought a new stake in shares of CoreLogic during the first quarter valued at approximately $573,000. Vanguard Group Inc. boosted its stake in shares of CoreLogic by 4.4% in the first quarter. Vanguard Group Inc. now owns 7,213,386 shares of the business services provider’s stock valued at $293,729,000 after buying an additional 301,853 shares during the last quarter. Capstone Asset Management Co. boosted its stake in shares of CoreLogic by 1.5% in the first quarter. Capstone Asset Management Co. now owns 11,552 shares of the business services provider’s stock valued at $470,000 after buying an additional 170 shares during the last quarter. Oxford Asset Management boosted its stake in shares of CoreLogic by 14.7% in the first quarter. Oxford Asset Management now owns 89,360 shares of the business services provider’s stock valued at $3,639,000 after buying an additional 11,459 shares during the last quarter. Finally, YG Partners LLC bought a new stake in shares of CoreLogic during the first quarter valued at approximately $9,426,000. Institutional investors and hedge funds own 88.21% of the company’s stock.
CoreLogic, Inc is a provider of property information, analytics and data-enabled services. The Company provides detailed coverage of property, mortgages and other encumbrances, property risk and replacement cost, consumer credit, tenancy, location, hazard risk and related performance information. Its segments include Property Intelligence (PI), Risk Management and Work Flow (RMW), and Corporate.
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