Clarcor Inc. (NYSE:CLC) Given Consensus Rating of “Hold” by Brokerages
Clarcor Inc. (NYSE:CLC) has been given a consensus rating of “Hold” by the seven research firms that are presently covering the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $64.00.
CLC has been the topic of several recent research reports. Zacks Investment Research lowered shares of Clarcor from a “buy” rating to a “hold” rating in a research report on Tuesday, May 24th. CL King reaffirmed a “neutral” rating on shares of Clarcor in a research report on Wednesday, June 8th. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Clarcor in a research report on Thursday, June 16th. Finally, Robert W. Baird lifted their price target on shares of Clarcor from $61.00 to $64.00 and gave the company a “neutral” rating in a research report on Friday.
In related news, Director Robert J. Burgstahler sold 7,500 shares of the business’s stock in a transaction on Wednesday, July 13th. The shares were sold at an average price of $62.00, for a total transaction of $465,000.00. Following the transaction, the director now owns 33,953 shares of the company’s stock, valued at $2,105,086. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher Conway sold 1,500 shares of the business’s stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $62.18, for a total transaction of $93,270.00. Following the transaction, the chief executive officer now directly owns 16,523 shares in the company, valued at approximately $1,027,400.14. The disclosure for this sale can be found here. 2.96% of the stock is currently owned by insiders.
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A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Clarcor by 2.4% in the second quarter. Vanguard Group Inc. now owns 3,879,681 shares of the company’s stock worth $236,001,000 after buying an additional 90,643 shares during the period. Atlanta Capital Management Co. L L C raised its position in shares of Clarcor by 2.2% in the second quarter. Atlanta Capital Management Co. L L C now owns 3,845,233 shares of the company’s stock worth $233,905,000 after buying an additional 83,867 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of Clarcor by 0.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,410,200 shares of the company’s stock worth $81,495,000 after buying an additional 12,398 shares during the period. Janus Capital Management LLC raised its position in shares of Clarcor by 1.6% in the second quarter. Janus Capital Management LLC now owns 1,388,160 shares of the company’s stock worth $84,442,000 after buying an additional 21,739 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Clarcor by 2.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,117,038 shares of the company’s stock worth $67,945,000 after buying an additional 27,702 shares during the period. 90.30% of the stock is currently owned by institutional investors and hedge funds.
Clarcor (NYSE:CLC) traded up 0.83% on Tuesday, reaching $63.29. 105,386 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $63.73 and a 200 day moving average of $59.79. Clarcor has a 12 month low of $44.13 and a 12 month high of $66.59. The stock has a market capitalization of $3.08 billion, a PE ratio of 21.68 and a beta of 1.18.
Clarcor (NYSE:CLC) last issued its quarterly earnings data on Wednesday, September 14th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.04. The firm had revenue of $331.40 million for the quarter, compared to analyst estimates of $339.43 million. Clarcor had a net margin of 10.35% and a return on equity of 11.60%. The company’s revenue for the quarter was down 7.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.66 earnings per share. Equities analysts predict that Clarcor will post $2.61 earnings per share for the current fiscal year.
CLARCOR Inc provides filtration products, filtration systems and services, and consumer and industrial packaging products. The Company’s segments include Engine/Mobile Filtration and Industrial/Environmental Filtration. Its Engine/Mobile Filtration segment manufactures and sells filtration products for on-road and off-road mobile and stationary applications, including trucks, agricultural machinery, transit buses, locomotives, and other industrial and specialty applications.
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