Robert W. Baird Boosts Clarcor Inc. (CLC) Price Target to $64.00
Several other equities analysts have also weighed in on CLC. Oppenheimer Holdings Inc. restated a hold rating on shares of Clarcor in a research note on Thursday, June 16th. Zacks Investment Research upgraded Clarcor from a hold rating to a buy rating and set a $68.00 price target for the company in a research note on Friday, June 17th. Finally, CL King restated a neutral rating on shares of Clarcor in a research note on Wednesday, June 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $68.50.
Shares of Clarcor (NYSE:CLC) opened at 63.07 on Friday. The stock has a market capitalization of $3.07 billion, a P/E ratio of 21.61 and a beta of 1.18. The firm’s 50-day moving average price is $63.75 and its 200-day moving average price is $59.87. Clarcor has a 12 month low of $44.13 and a 12 month high of $66.59.
Clarcor (NYSE:CLC) last announced its quarterly earnings results on Wednesday, September 14th. The company reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.04. Clarcor had a return on equity of 11.60% and a net margin of 10.35%. The firm earned $331.40 million during the quarter, compared to analyst estimates of $339.43 million. During the same quarter in the previous year, the business earned $0.66 EPS. Clarcor’s revenue for the quarter was down 7.3% compared to the same quarter last year. On average, equities research analysts forecast that Clarcor will post $2.60 EPS for the current year.
In related news, VP David J. Lindsay sold 44,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $62.14, for a total value of $2,734,160.00. Following the transaction, the vice president now directly owns 25,676 shares in the company, valued at $1,595,506.64. The transaction 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 company’s stock in a transaction that occurred on Tuesday, July 12th. The shares were sold at an average price of $62.18, for a total value of $93,270.00. Following the completion of the transaction, the chief executive officer now owns 16,523 shares in the company, valued at $1,027,400.14. The disclosure for this sale can be found here. 2.96% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Clarcor during the fourth quarter worth approximately $23,014,000. Independent Portfolio Consultants Inc. boosted its position in Clarcor by 15.1% in the first quarter. Independent Portfolio Consultants Inc. now owns 10,855 shares of the company’s stock worth $627,000 after buying an additional 1,425 shares in the last quarter. OLD National Bancorp IN boosted its position in Clarcor by 2.1% in the first quarter. OLD National Bancorp IN now owns 8,884 shares of the company’s stock worth $513,000 after buying an additional 184 shares in the last quarter. Granite Investment Partners LLC boosted its position in Clarcor by 38.6% in the first quarter. Granite Investment Partners LLC now owns 124,002 shares of the company’s stock worth $7,166,000 after buying an additional 34,505 shares in the last quarter. Finally, Commonwealth Equity Services Inc raised its stake in shares of Clarcor by 33.0% in the first quarter. Commonwealth Equity Services Inc now owns 6,601 shares of the company’s stock worth $381,000 after buying an additional 1,636 shares during the last quarter. Hedge funds and other institutional investors own 90.30% of the company’s stock.
Clarcor Company Profile
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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