Clarus (NASDAQ:CLAR) Rating Increased to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Clarus from “Hold” to “Buy,” though the broader analyst consensus remains “Hold,” with two Buy, three Hold, and one Sell rating and an average price target of $4.06.
• Clarus reported quarterly EPS of $0.18, beating estimates of a $0.07 loss, while revenue of $56.16 million also exceeded the $51.54 million consensus forecast.
• CLAR opened at $3.75, with a 52-week range of $2.53 to $4.03 and a market capitalization of approximately $144.15 million; institutional investors and hedge funds own 90.3% of shares.

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

A number of other research firms have also recently weighed in on CLAR. Zacks Research cut shares of Clarus from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 27th. Roth Capital increased their target price on shares of Clarus from $2.90 to $3.75 and gave the stock a "neutral" rating in a report on Monday, August 10th. Weiss Ratings restated a "sell (d-)" rating on shares of Clarus in a research report on Monday. Finally, B. Riley Financial boosted their price objective on Clarus from $4.00 to $4.50 and gave the stock a "buy" rating in a research report on Monday, August 10th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $4.06.

Clarus Stock Performance

CLAR opened at $3.75 on Friday. Clarus has a 1 year low of $2.53 and a 1 year high of $4.03. The firm has a 50 day moving average price of $3.47 and a 200 day moving average price of $3.11. The company has a market cap of $144.15 million, a PE ratio of -4.57 and a beta of 1.08.

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

Institutional Trading of Clarus

Several large investors have recently added to or reduced their stakes in CLAR. Goldman Sachs Group Inc. lifted its holdings in shares of Clarus by 7.0% in the first quarter. Goldman Sachs Group Inc. now owns 165,335 shares of the company's stock valued at $620,000 after purchasing an additional 10,873 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Clarus during the first quarter valued at $107,000. Marshall Wace LLP acquired a new position in Clarus during the second quarter valued at $100,000. Gabelli Funds LLC raised its position in Clarus by 16.7% during the second quarter. Gabelli Funds LLC now owns 70,000 shares of the company's stock valued at $243,000 after buying an additional 10,000 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in Clarus by 344.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 66,498 shares of the company's stock worth $233,000 after acquiring an additional 51,548 shares in the last quarter. 90.30% of the stock is owned by institutional investors and hedge funds.

About Clarus

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source