Baird Maintains CLARCOR to Neutral with Price Target $64.00

Brokerage firm Baird Maintains its rating on CLARCOR(NYSE:CLC). In a research note issued to the investors, the brokerage major Raises the price-target to $64.00 per share. The shares have been rated Neutral. The rating by Baird was issued on Sep 16, 2016.

CLARCOR (CLC) made into the market gainers list on Thursdays trading session with the shares advancing 1.80% or 1.15 points. Due to strong positive momentum, the stock ended at $65.06, which is also near the day’s high of $65.11. The stock began the session at $64.51 and the volume stood at 2,06,702 shares. The 52-week high of the shares is $66.59 and the 52 week low is $44.13. The company has a current market capitalization of $3,163 M and it has 4,86,15,388 shares in outstanding.

CLARCOR(CLC) last announced its earnings results on Sep 14, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $331.39M. Analysts had an estimated revenue of $339.43M. Earnings per share were $0.73. Analysts had estimated an EPS of $0.69.

Several Insider Transactions has been reported to the SEC. On Jul 13, 2016, Robert J Burgstahler (director) sold 7,500 shares at $62.00 per share price.Also, On Jul 13, 2016, Christopher Conway (President and CEO) sold 1,500 shares at $62.18 per share price.On Jul 12, 2016, David Joseph Fallon (VP-Chief Financial Officer) sold 25,000 shares at $62.14 per share price, according to the Form-4 filing with the securities and exchange commission.

CLARCOR Inc. is engaged in the marketing and manufacturing of mobile industrial and environmental filtration products. The Company’s segments are Engine/Mobile Filtration and Industrial/Environmental Filtration. The Company’s Engine/Mobile Filtration segment manufactures and sells filtration products for on-road and off-road mobile and stationary applications including trucks agricultural machinery construction and mining equipment marine automobiles transit buses and other industrial and specialty applications. The Company’s Industrial/Environmental Filtration segment manufactures and sells filtration products used in industrial and commercial processes and in buildings and infrastructures of various types. The Company’s filters and filter systems are used in commercial and industrial buildings hospitals manufacturing processes pharmaceutical processes clean rooms airports shipyards and refineries other oil and natural gas facilities among others.

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