Clarus (NASDAQ:CLAR) Downgraded by Wall Street Zen to "Hold"

Key Points

• Wall Street Zen downgraded Clarus from “Buy” to “Hold,” joining a mixed analyst group. The stock has a consensus “Hold” rating and an average price target of $4.06.
• Clarus shares opened at $3.58, compared with a 12-month range of $2.53 to $3.97; the company has a market capitalization of approximately $137.6 million.
• Clarus exceeded quarterly expectations, reporting $0.18 in earnings per share versus a consensus loss estimate of $0.07 and revenue of $56.16 million versus estimates of $51.54 million. Institutional investors and hedge funds own about 90.3% of the stock.

Clarus (NASDAQ:CLAR - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday, Wall Street Zen reports.

Several other equities analysts have also recently weighed in on CLAR. Roth Capital lifted their target price on Clarus from $2.90 to $3.75 and gave the company a "neutral" rating in a research note on Monday, August 10th. B. Riley Financial increased their price target on shares of Clarus from $4.00 to $4.50 and gave the stock a "buy" rating in a research report on Monday, August 10th. Weiss Ratings restated a "sell (d-)" rating on shares of Clarus in a report on Monday, August 31st. Finally, Zacks Research downgraded shares of Clarus from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 27th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Clarus presently has a consensus rating of "Hold" and a consensus price target of $4.06.

Clarus Price Performance

Shares of Clarus stock opened at $3.58 on Friday. The stock has a market cap of $137.62 million, a PE ratio of -4.37 and a beta of 1.08. The business has a fifty day simple moving average of $3.55 and a 200-day simple moving average of $3.13. Clarus has a 12 month low of $2.53 and a 12 month high of $3.97.

Clarus (NASDAQ:CLAR - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.25. The firm had revenue of $56.16 million for the quarter, compared to analyst estimates of $51.54 million. Clarus had a positive return on equity of 4.35% and a negative net margin of 12.44%. Analysts expect that Clarus will post 0.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Clarus in the 2nd quarter valued at approximately $1,454,000. GSA Capital Partners LLP bought a new position in Clarus during the second quarter valued at approximately $652,000. Potomac Capital Management Inc. acquired a new stake in Clarus in the fourth quarter valued at approximately $3,244,000. Bank of New York Mellon Corp acquired a new stake in Clarus in the second quarter valued at approximately $557,000. Finally, Empowered Funds LLC bought a new stake in Clarus in the second quarter worth approximately $86,000. 90.30% of the stock is owned by institutional investors and hedge funds.

Clarus Company Profile

Clarus Corporation NASDAQ: CLAR is a global company that designs, develops, manufactures and distributes outdoor equipment and related products. Its portfolio serves consumers and professionals in climbing, skiing, mountaineering, camping, cycling, trail sports, overlanding and other outdoor activities.

The company's principal brands include Black Diamond Equipment, which offers climbing, mountain sports, ski and outdoor products; Rhino-Rack, which develops vehicle-based carrying and storage systems; and MAXTRAX, which produces vehicle recovery boards and related off-road equipment.

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