Corelogic (NYSE:CLGX) Rating Increased to Strong-Buy at Zacks Investment Research

Corelogic (NYSE:CLGX) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday, Zacks.com reports. The firm presently has a $53.00 price objective on the business services provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 14.52% from the stock’s current price.

According to Zacks, “CoreLogic, Inc., formerly known as First American Corp., is a provider of consumer, financial and property information, analytics and services to business and government. The Company combines public, contributory and proprietary data to develop predictive decision analytics and provide business services. CoreLogic has built databases for U.S. real estate, mortgage application, fraud, and loan performance and is also a provider of mortgage and automotive credit reporting, property tax, valuation, flood determination, and geospatial analytics and services. The Company serves various industries, including automotive, cable, financial services, employment, geospatial information service, insurance, legal, oil and gas, real estate, retail, utility, and telecommunications. CoreLogic, Inc. is headquartered in Santa Ana, California. “

Several other research analysts also recently commented on the stock. ValuEngine raised shares of Yandex from a “hold” rating to a “buy” rating in a report on Saturday, April 13th. SunTrust Banks raised their price target on shares of Fidelity National Financial to $45.00 and gave the company a “buy” rating in a report on Friday, April 26th. Robert W. Baird set a $81.00 price target on shares of W. R. Grace & Co and gave the company a “buy” rating in a report on Friday. Finally, Compass Point set a $60.00 price target on shares of First American Financial and gave the company a “hold” rating in a report on Friday. Six analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Corelogic has an average rating of “Buy” and an average target price of $46.00.

CLGX traded down $0.12 on Tuesday, hitting $46.28. The company’s stock had a trading volume of 428,438 shares, compared to its average volume of 518,426. The stock’s 50 day simple moving average is $43.58. The stock has a market cap of $3.67 billion, a price-to-earnings ratio of 19.61, a P/E/G ratio of 1.94 and a beta of 0.83. Corelogic has a 12 month low of $31.87 and a 12 month high of $51.28. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.75.

Corelogic (NYSE:CLGX) last announced its quarterly earnings results on Wednesday, July 24th. The business services provider reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.09. Corelogic had a net margin of 1.80% and a return on equity of 17.14%. The firm had revenue of $459.54 million during the quarter, compared to the consensus estimate of $444.22 million. During the same period last year, the firm earned $1.00 EPS. The business’s quarterly revenue was down 5.9% compared to the same quarter last year. Research analysts anticipate that Corelogic will post 2.13 EPS for the current year.

In other news, Director Mary Lee Widener sold 1,900 shares of Corelogic stock in a transaction on Friday, May 17th. The shares were sold at an average price of $40.00, for a total transaction of $76,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Frank Martell sold 7,500 shares of Corelogic stock in a transaction on Monday, July 8th. The stock was sold at an average price of $43.03, for a total transaction of $322,725.00. Following the sale, the chief executive officer now directly owns 324,436 shares of the company’s stock, valued at $13,960,481.08. The disclosure for this sale can be found here. Insiders have sold a total of 14,590 shares of company stock valued at $617,693 over the last ninety days. 1.10% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Penserra Capital Management LLC bought a new stake in shares of Corelogic during the 1st quarter worth $25,000. Weaver Consulting Group purchased a new position in Corelogic in the 1st quarter worth $65,000. AlphaOne Investment Services LLC raised its position in Corelogic by 18.5% in the 1st quarter. AlphaOne Investment Services LLC now owns 1,690 shares of the business services provider’s stock worth $63,000 after purchasing an additional 264 shares during the period. Group One Trading L.P. raised its position in Corelogic by 49.0% in the 1st quarter. Group One Trading L.P. now owns 2,578 shares of the business services provider’s stock worth $96,000 after purchasing an additional 848 shares during the period. Finally, NumerixS Investment Technologies Inc raised its position in Corelogic by 68.8% in the 1st quarter. NumerixS Investment Technologies Inc now owns 3,200 shares of the business services provider’s stock worth $118,000 after purchasing an additional 1,304 shares during the period. 90.41% of the stock is owned by institutional investors.

About Corelogic

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).

See Also: Cost of Goods Sold (COGS)

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