Clarus (NASDAQ:CLAR) Stock Price Target Raised at B. Riley Financial

Key Points

• B. Riley raised Clarus’s price target to $6.00 from $4.50 and maintained a Buy rating, implying 15.72% upside from the stock’s current price.
• Analyst views remain mixed: the consensus rating is Hold, with a $4.69 average price target; two analysts rate the stock Buy, three Hold, and one Sell.
• Clarus beat quarterly expectations, reporting EPS of $0.15 versus $0.05 expected and revenue of $71.22 million versus $66.84 million forecast.

Clarus (NASDAQ:CLAR - Get Free Report) had its price objective hoisted by analysts at B. Riley Financial from $4.50 to $6.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. B. Riley Financial's price target indicates a potential upside of 15.72% from the stock's current price.

Several other analysts have also recently weighed in on CLAR. Weiss Ratings reissued a "sell (d-)" rating on shares of Clarus in a research note on Monday, August 31st. Roth Capital lifted their price target on Clarus from $2.90 to $3.75 and gave the company a "neutral" rating in a research report on Monday, August 10th. Lake Street Capital boosted their target price on Clarus from $3.00 to $4.00 and gave the company a "hold" rating in a research note on Friday. Finally, Wall Street Zen upgraded shares of Clarus from a "hold" rating to a "buy" rating in a report on Sunday, September 27th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $4.69.

Clarus Stock Performance

CLAR traded up $0.06 during mid-day trading on Tuesday, reaching $5.18. The stock had a trading volume of 225,380 shares, compared to its average volume of 215,835. Clarus has a 52 week low of $2.53 and a 52 week high of $5.32. The stock has a market capitalization of $199.31 million, a P/E ratio of -7.51 and a beta of 1.03. The firm's fifty day simple moving average is $3.76 and its two-hundred day simple moving average is $3.30.

Clarus (NASDAQ:CLAR - Get Free Report) last issued its quarterly earnings data on Thursday, November 5th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.10. The firm had revenue of $71.22 million during the quarter, compared to analysts' expectations of $66.84 million. Clarus had a negative net margin of 12.44% and a positive return on equity of 4.35%. As a group, analysts expect that Clarus will post 0.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Clarus

Hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in Clarus during the second quarter worth $1,454,000. Gamco Investors INC. ET AL boosted its stake in shares of Clarus by 11.1% during the 1st quarter. Gamco Investors INC. ET AL now owns 350,000 shares of the company's stock valued at $952,000 after buying an additional 35,000 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of Clarus in the 2nd quarter worth about $652,000. Bank of New York Mellon Corp bought a new stake in Clarus during the 2nd quarter valued at $557,000. Finally, Squarepoint Ops LLC boosted its position in shares of Clarus by 88.8% during the 2nd quarter. Squarepoint Ops LLC now owns 127,426 shares of the company's stock valued at $401,000 after purchasing an additional 59,922 shares in the last quarter. Institutional investors and hedge funds own 90.30% of the company's stock.

About Clarus

Clarus Corporation NASDAQ: CLAR is an outdoor equipment and lifestyle products company headquartered in Salt Lake City, Utah. The company develops, manufactures and markets products for climbing, mountaineering, skiing, camping, overlanding and other outdoor activities. Clarus's portfolio includes Black Diamond Equipment, which offers climbing and mountaineering gear, skis, ski equipment, apparel and accessories. The company also owns Rhino-Rack, a provider of vehicle-based storage and transportation systems, and MAXTRAX, which makes vehicle recovery boards and related off-road products.

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.