Corelogic (NYSE:CLGX) was downgraded by analysts at Wells Fargo & Co from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Monday, Marketbeat Ratings reports. They currently have a $65.00 price objective on the business services provider’s stock, up from their prior price objective of $60.00. Wells Fargo & Co‘s price objective points to a potential downside of 4.94% from the stock’s previous close.
Other equities research analysts have also issued research reports about the stock. TheStreet raised shares of Corelogic from a “c+” rating to a “b-” rating in a report on Thursday, May 21st. Compass Point raised shares of Corelogic from a “neutral” rating to a “buy” rating and set a $48.00 price target on the stock in a report on Monday, May 4th. Stephens raised their price objective on shares of Corelogic from $52.00 to $57.00 and gave the stock an “overweight” rating in a report on Monday, June 15th. They noted that the move was a valuation call. Deutsche Bank lowered their price objective on shares of Corelogic from $39.00 to $27.00 and set a “sell” rating for the company in a report on Monday, March 23rd. Finally, SunTrust Banks upgraded shares of Corelogic from a “hold” rating to a “buy” rating and raised their price objective for the stock from $38.00 to $75.00 in a report on Friday, June 26th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $52.10.
CLGX stock opened at $68.38 on Monday. The firm has a market cap of $5.40 billion, a P/E ratio of 67.70, a P/E/G ratio of 2.21 and a beta of 1.29. Corelogic has a 52 week low of $24.69 and a 52 week high of $68.53. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.38 and a current ratio of 1.38. The firm’s fifty day moving average is $49.64 and its 200 day moving average is $44.18.
Corelogic (NYSE:CLGX) last announced its quarterly earnings results on Thursday, April 30th. The business services provider reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. The business had revenue of $443.89 million for the quarter, compared to analyst estimates of $438.44 million. Corelogic had a net margin of 4.56% and a return on equity of 24.23%. The company’s revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.45 EPS. As a group, analysts forecast that Corelogic will post 2.57 EPS for the current year.
In other news, CEO Frank Martell sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $40.16, for a total value of $301,200.00. Following the transaction, the chief executive officer now owns 360,886 shares in the company, valued at $14,493,181.76. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Paul F. Folino sold 1,800 shares of the company’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $42.32, for a total transaction of $76,176.00. Following the completion of the transaction, the director now owns 11,820 shares in the company, valued at approximately $500,222.40. The disclosure for this sale can be found here. Insiders have sold 17,932 shares of company stock worth $774,110 in the last three months. 1.60% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CLGX. Asset Management One Co. Ltd. purchased a new position in shares of Corelogic during the first quarter valued at approximately $33,000. Pearl River Capital LLC purchased a new stake in Corelogic during the first quarter valued at approximately $46,000. Pinz Capital Management LP purchased a new stake in Corelogic during the first quarter valued at approximately $47,000. PNC Financial Services Group Inc. increased its holdings in Corelogic by 9.2% during the first quarter. PNC Financial Services Group Inc. now owns 2,720 shares of the business services provider’s stock valued at $83,000 after buying an additional 230 shares during the last quarter. Finally, Penserra Capital Management LLC increased its holdings in Corelogic by 68.2% during the fourth quarter. Penserra Capital Management LLC now owns 1,924 shares of the business services provider’s stock valued at $89,000 after buying an additional 780 shares during the last quarter. 90.49% of the stock is owned by hedge funds and other institutional investors.
CoreLogic, Inc, together with its subsidiaries, provides property information, insight, analytics, and data-enabled solutions in North America, Western Europe, and the Asia Pacific. The company operates in two segments, Property Intelligence & Risk Management Solutions (PIRM) and Underwriting & Workflow Solutions (UWS).
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