Finally, on March 17, 2006, I posted Clarcor (CLC) on Stock Picks Bob's Advice when the stock was trading at $35.62. CLC closed at $38.72 on August 31, 2007, for a gain of $3.10 or 8.7% since posting.
Here is the "point & figure" chart on CLC from StockCharts.com:
On June 19, 2007, Clarcor (CLC) announced 2nd quarter 2007 results . Net sales increased 3.5% for the quarter ended 6/2/07, to $235.1 million from $227.1 million in the same quarter last year. Earnings grew 28.1% to $.41/diluted share, up from $.32/diluted share last year.
The company slightly missed estimates on revenue, with $235.9 million expected but beat expectations on earnings with analysts looking for $.37/share. The company also raised 2007 guidance to $1.72 to $1.80/share. Analysts had been expecting net income of $1.70/share.
The Morningstar.com "5-Yr Restated" financials page is intact.
With the solid earnings report and the company beating expectations on earnings (although coming in slightly light on revenue), raising guidance, and with an intact Morningstar.com report,
CLARCOR (CLC) IS RATED A BUY
So how did I do picking these three stocks back during the week of March 13, 2006? In a word, great! All three stocks showed gains with the average appreciation being a gain of 24.9% since posting.
Please remember that past performance is no guarantee for future performance and that of course I am an amateur so please consult with your advisers!
In the meantime, please feel free to drop me a line at bobsadviceforstocks@lycos.com if you have any comments or questions or simply post on the blog itself. Also, be sure and visit my Stock Picks Podcast website , my Covestor page where my trading portfolio is monitored, and my SocialPicks page where all of my stock picks since January, 2007, are being followed.
$38.52 (09/03/07)
