Stock On Watch: What’s Next for CLARCOR Inc. After Today’s Gap Up?

Stock On Watch: What's Next for CLARCOR Inc. After Today's Gap Up?

The stock of CLARCOR Inc. (NYSE:CLC) gapped up by $10.69 today and has $87.53 target or 6.00% above today’s $82.58 share price. The 7 months technical chart setup indicates low risk for the $4.05B company. The gap was reported on Dec, 2 by Barchart.com. If the $87.53 price target is reached, the company will be worth $243.00 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 17.22% or $12.13 during the last trading session, hitting $82.58. About 4.22 million shares traded hands or 2014.10% 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 EPS, down 5.41% or $0.04 from last year’s $0.74 per share. CLC’s profit will be $34.33 million for 29.49 P/E if the $0.70 EPS becomes a reality. After $0.73 actual EPS 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. On Tuesday, September 22 the stock rating was downgraded by TheStreet to “Hold”. 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 Monday, August 31 by Zacks. The stock of CLARCOR Inc. (NYSE:CLC) has “Sell” rating given on Tuesday, September 22 by Zacks. Zacks upgraded the shares of CLC in a report on Wednesday, August 12 to “Sell” rating. The stock has “Neutral” rating given by Robert W. Baird on Friday, September 16. On Friday, September 18 the stock rating was downgraded by Robert W. Baird to “Neutral”.

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.
Timessquare Cap Mgmt accumulated 0.27% or 680,000 shares. Savant Llc accumulated 0.1% or 5,987 shares. Calvert Invest Management, a Maryland-based fund reported 3,790 shares. Diversified Tru Company accumulated 10,325 shares or 0.07% of the stock. Comm Bankshares has 9,023 shares for 0.01% of their US portfolio. Beck Mack Oliver, a New York-based fund reported 18,500 shares. Invesco accumulated 0% or 55,319 shares. Principal Grp Inc Inc holds 183,722 shares or 0.02% of its portfolio. Legacy Capital Partners last reported 5,162 shares in the company. Rockefeller Fincl Serv Incorporated last reported 0.18% of its portfolio in the stock. Neuberger Berman Gp Lc, a New York-based fund reported 2.31 million shares. Proshare Advisors Ltd Limited Liability Company reported 76,465 shares or 0.06% of all its holdings. Johnson Fincl has invested 0% of its portfolio in CLARCOR Inc. (NYSE:CLC). Voya Invest Management Limited Liability Company last reported 0.14% of its portfolio in the stock. California State Teachers Retirement holds 99,983 shares or 0.01% of its portfolio.

Insider Transactions: Since July 8, 2016, the stock had 0 buys, and 5 selling transactions for $4.97 million net activity. $1.55 million worth of CLARCOR Inc. (NYSE:CLC) was sold by Fallon David Joseph. 7,500 shares were sold by BURGSTAHLER ROBERT J, worth $465,000. Another trade for 44,000 shares valued at $2.73M was made by LINDSAY DAVID J on Monday, July 11. Shares for $93,270 were sold by Conway Christopher.

More notable recent CLARCOR Inc. (NYSE:CLC) news were published by: Foxbusiness.com which released: “Why CLARCOR Inc.’s Shares Popped 18% Today” on December 01, 2016, also Businesswire.com with their article: “CLARCOR Inc. Shareholder Alert: Former SEC Attorney Willie Briscoe and Powers …” published on December 01, 2016, Reuters.com published: “BRIEF-Clarcor inc says in case of termination of merger with parker, Clarc…” on December 01, 2016. More interesting news about CLARCOR Inc. (NYSE:CLC) were released by: Nasdaq.com and their article: “Mid-Afternoon Market Update: NASDAQ Down 1.25%; CLARCOR Shares Gain On …” published on December 01, 2016 as well as Fool.com‘s news article titled: “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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