Price Action to Note: CLARCOR Inc.’s Trend Up, Especially After Today’s 52-Week High Milestone

Price Action to Note: CLARCOR Inc.'s Trend Up, Especially After Today's 52 Week High Milestone

The stock of CLARCOR Inc. (NYSE:CLC) hit a new 52-week high and has $87.93 target or 7.00% above today’s $82.18 share price. The 7 months bullish chart indicates low risk for the $4.03B company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $87.93 price target is reached, the company will be worth $282.10M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 831,683 shares traded hands or 316.65% up from the average. CLARCOR Inc. (NYSE:CLC) has risen 19.16% since April 28, 2016 and is uptrending. It has outperformed by 13.24% 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 $34.25 million for 29.34 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. $64 is the highest target while $53 is the lowest. The $64 average target is -22.12% below today’s ($82.18) stock price. CLARCOR has been the topic of 7 analyst reports since August 12, 2015 according to StockzIntelligence Inc. Robert W. Baird maintained the shares of CLC in a report on Friday, September 16 with “Neutral” rating. The firm earned “Sell” rating on Wednesday, August 12 by Zacks. TheStreet downgraded CLARCOR Inc. (NYSE:CLC) on Tuesday, September 22 to “Hold” rating. The firm earned “Sell” rating on Monday, August 31 by Zacks. The firm has “Neutral” rating by Robert W. Baird given on Friday, September 18. The firm has “Sell” rating by Zacks given on Tuesday, September 22. The rating was downgraded by Zacks on Tuesday, August 18 to “Hold”.

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 Q2 2016. 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.
Moreover, Sg Americas Secs Ltd Liability Corp has 0.01% invested in CLARCOR Inc. (NYSE:CLC) for 13,641 shares. State Treasurer State Of Michigan reported 19,500 shares or 0.01% of all its holdings. Bbva Compass Natl Bank, a Texas-based fund reported 7,055 shares. Zurcher Kantonalbank (Zurich Cantonalbank) owns 1,177 shares or 0% of their US portfolio. Adage Partners Gru Ltd Llc holds 0.01% of its portfolio in CLARCOR Inc. (NYSE:CLC) for 43,631 shares. Fdx Advisors Inc holds 19,652 shares or 0.05% of its portfolio. Clean Yield last reported 12,894 shares in the company. Barclays Public Lc reported 15,107 shares or 0% of all its holdings. Prudential Fin last reported 0% of its portfolio in the stock. Blackrock Institutional Tru Na holds 1.40 million shares or 0.01% of its portfolio. Hall Laurie J Trustee accumulated 0% or 100 shares. California Pub Employees Retirement Systems, a California-based fund reported 155,900 shares. Osborn Rohs Williams & Donohoe Limited has 16,000 shares for 0.19% of their US portfolio. Parametric Port Assoc Lc accumulated 0.01% or 93,409 shares. Advance Capital I last reported 10,200 shares in the company.

Insider Transactions: Since July 8, 2016, the stock had 0 insider buys, and 5 selling transactions for $4.97 million net activity. BURGSTAHLER ROBERT J had sold 7,500 shares worth $465,000. 25,000 shares with value of $1.55 million were sold by Fallon David Joseph on Tuesday, July 12. Conway Christopher had sold 2,000 shares worth $121,620 on Friday, July 8. $2.73 million worth of CLARCOR Inc. (NYSE:CLC) was sold by LINDSAY DAVID J on Monday, July 11.

More important recent CLARCOR Inc. (NYSE:CLC) news were published by: Crainscleveland.com which released: “Parker Hannifin is buying Clarcor Inc. in a $4.3 billion deal” on December 01, 2016, also Reuters.com published article titled: “BRIEF-Clarcor inc says in case of termination of merger with parker, Clarc…”, Marketwatch.com published: “Clarcor downgraded to neutral from outperform at RW Baird” on December 21, 2009. More interesting news about CLARCOR Inc. (NYSE:CLC) was released by: Fool.com and their article: “Why CLARCOR Inc.’s Shares Plunged 16% Today” with publication date: September 17, 2015.

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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