Wall Street Zen Upgrades Clarus (NASDAQ:CLAR) to “Buy”

by · The Markets Daily

Clarus (NASDAQ:CLAR – Get Free Report) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Other research analysts have also recently issued research reports about the stock. Zacks Research cut shares of Clarus from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. B. Riley Financial increased their target price on Clarus from $4.00 to $4.50 and gave the stock a “buy” rating in a report on Monday, August 10th. Roth Capital boosted their price target on Clarus from $2.90 to $3.75 and gave the company a “neutral” rating in a research note on Monday, August 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Clarus in a report on Wednesday, June 3rd. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $4.06.

View Our Latest Research Report on Clarus

Clarus Stock Performance

NASDAQ CLAR opened at $3.65 on Friday. Clarus has a twelve month low of $2.53 and a twelve month high of $4.03. The stock has a market cap of $140.31 million, a PE ratio of -4.45 and a beta of 1.05. The firm has a 50-day simple moving average of $3.27 and a 200 day simple moving average of $3.09.

Clarus (NASDAQ:CLAR – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.25. Clarus had a positive return on equity of 4.35% and a negative net margin of 12.44%.The firm had revenue of $56.16 million during the quarter, compared to analysts’ expectations of $51.54 million.

Institutional Investors Weigh In On Clarus

A number of institutional investors and hedge funds have recently made changes to their positions in CLAR. Russell Investments Group Ltd. increased its position in Clarus by 4.4% in the third quarter. Russell Investments Group Ltd. now owns 1,398,258 shares of the company’s stock worth $4,894,000 after purchasing an additional 58,821 shares during the period. Potomac Capital Management Inc. acquired a new position in Clarus during the 4th quarter valued at about $3,244,000. Geode Capital Management LLC grew its position in shares of Clarus by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 702,446 shares of the company’s stock worth $2,354,000 after buying an additional 3,611 shares during the period. BlackRock Inc. bought a new stake in shares of Clarus during the second quarter worth approximately $1,454,000. Finally, Gamco Investors INC. ET AL grew its holdings in Clarus by 11.1% during the 1st quarter. Gamco Investors INC. ET AL now owns 350,000 shares of the company’s stock worth $952,000 after acquiring an additional 35,000 shares during the period. Institutional investors own 90.30% of the company’s stock.

Clarus Company Profile

(Get Free Report)

Clarus Corporation (NASDAQ: CLAR) is a global designer, manufacturer and marketer of outdoor recreation equipment. The company’s portfolio of brands serves enthusiasts across climbing, skiing, trail running, paddling and snow safety, combining purpose-driven innovation with in-house manufacturing capabilities. Clarus focuses on high-performance gear developed to meet the demands of professional athletes and recreational users alike.

The company’s flagship brand, Black Diamond Equipment, offers climbing protection, apparel, ski bindings and accessories engineered for backcountry and alpine environments.

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