Price Action To Observe: CLARCOR Inc. Just Reaches All-Time High?

Price Action To Observe: CLARCOR Inc. Just Reaches All Time High?

The stock of CLARCOR Inc. (NYSE:CLC) reached all time high today, Nov, 25 and still has $73.68 target or 4.00% above today’s $70.85 share price. This indicates more upside for the $3.45 billion company. This technical setup was reported by Barchart.com. If the $73.68 PT is reached, the company will be worth $138.00 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. The stock increased 1.85% or $1.29 during the last trading session, hitting $70.85. About 77,693 shares traded hands. CLARCOR Inc. (NYSE:CLC) has risen 18.14% since April 22, 2016 and is uptrending. It has outperformed by 12.73% the S&P500.

Analysts await CLARCOR Inc. (NYSE:CLC) to report earnings on January, 11. They expect $0.70 earnings per share, down 5.41% or $0.04 from last year’s $0.74 per share. CLC’s profit will be $34.09M for 25.30 P/E if the $0.70 EPS becomes a reality. After $0.73 actual earnings per share reported by CLARCOR Inc. for the previous quarter, Wall Street now forecasts -4.11% negative EPS growth.

CLARCOR Inc. (NYSE:CLC) Ratings Coverage

Out of 3 analysts covering CLARCOR (NYSE:CLC), 0 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 0 are positive. CLARCOR has been the topic of 7 analyst reports since August 12, 2015 according to StockzIntelligence Inc. Zacks downgraded the shares of CLC in a report on Tuesday, September 22 to “Sell” rating. As per Friday, September 18, the company rating was downgraded by Robert W. Baird. The rating was maintained by Robert W. Baird on Friday, September 16 with “Neutral”. On Tuesday, August 18 the stock rating was downgraded by Zacks to “Hold”. The stock of CLARCOR Inc. (NYSE:CLC) has “Sell” rating given on Wednesday, August 12 by Zacks. The stock of CLARCOR Inc. (NYSE:CLC) earned “Sell” rating by Zacks on Monday, August 31. TheStreet downgraded the stock to “Hold” rating in Tuesday, September 22 report.

According to Zacks Investment Research, “Clarcor Inc. is a diversified marketer and manufacturer of mobile, industrial and environmental filtration products and consumer and industrial packaging products sold in domestic and international markets.”

Insitutional Activity: The institutional sentiment increased to 1.13 in 2016 Q2. Its up 0.32, from 0.81 in 2016Q1. The ratio increased, as 25 funds sold all CLARCOR Inc. shares owned while 87 reduced positions. 22 funds bought stakes while 69 increased positions. They now own 41.60 million shares or 7.20% less from 44.83 million shares in 2016Q1.
Rocky Mountain Advisers Limited Company has 0.01% invested in the company for 33 shares. Ameritas Ptnrs has 11,380 shares for 0.04% of their US portfolio. Ameriprise holds 0.01% or 149,490 shares in its portfolio. State Board Of Administration Of Florida Retirement Systems, a Florida-based fund reported 28,782 shares. Eagle Asset has invested 0.03% of its portfolio in CLARCOR Inc. (NYSE:CLC). Liberty Mutual Gp Asset Mgmt holds 0.05% of its portfolio in CLARCOR Inc. (NYSE:CLC) for 21,163 shares. Stifel Finance Corporation owns 9,134 shares or 0% of their US portfolio. Citigroup holds 10,790 shares or 0% of its portfolio. Da Davidson & last reported 8,548 shares in the company. Bluecrest Cap Mngmt Ltd has invested 0.01% of its portfolio in CLARCOR Inc. (NYSE:CLC). Clean Yield Group last reported 12,894 shares in the company. Prudential Fincl Inc last reported 47,304 shares in the company. Adage Cap Ptnrs Ltd Co reported 43,631 shares or 0.01% of all its holdings. First Republic Mgmt accumulated 4,184 shares or 0% of the stock. Pillar Pacific Cap Ltd Liability holds 0.08% or 7,500 shares in its portfolio.

Insider Transactions: Since July 8, 2016, the stock had 0 insider purchases, and 5 selling transactions for $4.97 million net activity. $121,620 worth of CLARCOR Inc. (NYSE:CLC) shares were sold by Conway Christopher. Another trade for 7,500 shares valued at $465,000 was sold by BURGSTAHLER ROBERT J. Shares for $2.73 million were sold by LINDSAY DAVID J. Fallon David Joseph sold $1.55M worth of CLARCOR Inc. (NYSE:CLC) on Tuesday, July 12.

More recent CLARCOR Inc. (NYSE:CLC) news were published by: Marketwatch.com which released: “Clarcor downgraded to neutral from outperform at RW Baird” on December 21, 2009. Also Fool.com published the news titled: “Why CLARCOR Inc.’s Shares Plunged 16% Today” on September 17, 2015. Quotes.Wsj.com‘s news article titled: “Clarcor Inc. CLC (US: NYSE)” with publication date: February 11, 2011 was also an interesting one.

CLC Company Profile

CLARCOR Inc., incorporated on March 3, 1969, which provides filtration products, filtration systems and services, and consumer and industrial packaging products. The Company’s divisions include Engine/Mobile Filtration and Industrial/Environmental Filtration.

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