Corelogic (NYSE:CLGX) Raised to Buy at SunTrust Banks

SunTrust Banks upgraded shares of Corelogic (NYSE:CLGX) from a hold rating to a buy rating in a research note issued to investors on Friday, BenzingaRatingsTable reports. They currently have $75.00 target price on the business services provider’s stock, up from their previous target price of $38.00.

A number of other brokerages have also commented on CLGX. Deutsche Bank lowered their price target on Corelogic from $39.00 to $27.00 and set a sell rating on the stock in a report on Monday, March 23rd. Citigroup cut Corelogic from an outperform rating to a market perform rating and set a $46.00 target price for the company. in a research note on Friday, February 28th. They noted that the move was a valuation call. Robert W. Baird raised their target price on Corelogic from $52.00 to $55.00 and gave the company a neutral rating in a research note on Friday. TheStreet upgraded Corelogic from a c+ rating to a b- rating in a research report on Thursday, May 21st. Finally, Oppenheimer lowered Corelogic from an outperform rating to a market perform rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $52.10.

Shares of CLGX stock opened at $68.38 on Friday. Corelogic has a twelve month low of $24.69 and a twelve month high of $68.53. The firm has a 50-day moving average price of $49.17 and a 200 day moving average price of $44.04. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.71. The company has a market capitalization of $5.40 billion, a price-to-earnings ratio of 67.70, a PEG ratio of 2.21 and a beta of 1.29.

Corelogic (NYSE:CLGX) last released its quarterly earnings results on Thursday, April 30th. The business services provider reported $0.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.05. The firm had revenue of $443.89 million during the quarter, compared to analysts’ expectations of $438.44 million. Corelogic had a return on equity of 24.23% and a net margin of 4.56%. Corelogic’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.45 EPS. As a group, research analysts predict that Corelogic will post 2.57 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Friday, May 29th. Corelogic’s dividend payout ratio (DPR) is currently 35.20%.

In other news, CFO James L. Balas sold 4,000 shares of Corelogic stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $42.77, for a total transaction of $171,080.00. Following the sale, the chief financial officer now owns 94,851 shares of the company’s stock, valued at approximately $4,056,777.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John C. Dorman sold 3,190 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $51.05, for a total value of $162,849.50. Following the completion of the sale, the director now directly owns 18,118 shares in the company, valued at approximately $924,923.90. The disclosure for this sale can be found here. Insiders sold a total of 17,932 shares of company stock worth $774,110 in the last ninety days. Insiders own 1.60% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Asset Management One Co. Ltd. bought a new position in Corelogic in the 1st quarter valued at $33,000. Pearl River Capital LLC bought a new stake in shares of Corelogic during the first quarter worth $46,000. Pinz Capital Management LP bought a new stake in shares of Corelogic during the first quarter worth $47,000. PNC Financial Services Group Inc. raised its position in shares of 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 worth $83,000 after acquiring an additional 230 shares during the last quarter. Finally, Penserra Capital Management LLC raised its position in shares of Corelogic by 68.2% during the fourth quarter. Penserra Capital Management LLC now owns 1,924 shares of the business services provider’s stock worth $89,000 after acquiring an additional 780 shares during the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Corelogic Company Profile

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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Analyst Recommendations for Corelogic (NYSE:CLGX)

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