Clarcor Inc. (NYSE:CLC) – Oppenheimer Holdings lowered their FY2016 earnings per share estimates for Clarcor in a research report issued on Monday. Oppenheimer Holdings analyst J. Giannakouros now expects that the brokerage will post earnings per share of $2.60 for the year, down from their prior estimate of $2.65. Oppenheimer Holdings has a “Hold” rating on the stock. Oppenheimer Holdings also issued estimates for Clarcor’s Q4 2016 earnings at $0.70 EPS, FY2017 earnings at $2.70 EPS and FY2018 earnings at $2.85 EPS.
Other analysts have also recently issued reports about the company. CL King reissued a “neutral” rating on shares of Clarcor in a report on Wednesday, June 8th. Zacks Investment Research cut Clarcor from a “buy” rating to a “sell” rating in a report on Monday. Finally, Robert W. Baird lifted their price target on Clarcor from $61.00 to $64.00 and gave the stock a “neutral” rating in a report on Friday, September 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Clarcor presently has an average rating of “Hold” and a consensus target price of $68.50.
Clarcor (NYSE:CLC) opened at 63.91 on Tuesday. The stock’s 50 day moving average price is $63.82 and its 200 day moving average price is $59.90. The firm has a market cap of $3.11 billion, a price-to-earnings ratio of 21.89 and a beta of 1.18. Clarcor has a 52 week low of $44.13 and a 52 week high of $66.59.
Clarcor (NYSE:CLC) last posted its quarterly earnings data on Wednesday, September 14th. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.04. The company had revenue of $331.40 million for the quarter, compared to analyst estimates of $339.43 million. Clarcor had a return on equity of 11.60% and a net margin of 10.35%. The business’s revenue was down 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.66 earnings per share.
Several institutional investors have recently modified their holdings of CLC. Norges Bank acquired a new position in shares of Clarcor during the fourth quarter valued at about $23,014,000. Emerald Acquisition Ltd. acquired a new position in shares of Clarcor during the second quarter valued at about $11,171,000. 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 valued at $236,001,000 after buying an additional 90,643 shares during the last quarter. 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 valued at $233,905,000 after buying an additional 83,867 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Clarcor by 28.7% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 348,140 shares of the company’s stock valued at $21,177,000 after buying an additional 77,695 shares during the last quarter. Institutional investors own 90.30% of the company’s stock.
In other Clarcor news, CEO Christopher Conway sold 2,000 shares of Clarcor stock in a transaction on Friday, July 8th. The stock was sold at an average price of $60.81, for a total value of $121,620.00. Following the completion of the transaction, the chief executive officer now directly owns 17,023 shares of the company’s stock, valued at approximately $1,035,168.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David Joseph Fallon sold 25,000 shares of Clarcor stock in a transaction on Tuesday, July 12th. The shares were sold at an average price of $62.14, for a total value of $1,553,500.00. Following the completion of the transaction, the chief financial officer now directly owns 28,217 shares of the company’s stock, valued at $1,753,404.38. The disclosure for this sale can be found here. 2.96% of the stock is owned by company insiders.
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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