Clarus (NASDAQ:CLAR) Stock Rating Raised 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 a $4.06 price target.
• Clarus reported quarterly earnings of $0.18 per share, beating expectations by $0.25, while revenue of $56.16 million also exceeded forecasts.
• Clarus shares opened at $3.58, near their 50-day average, and institutional investors own approximately 90.3% of the company.

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

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

Clarus Trading Up 2.0%

CLAR stock opened at $3.58 on Friday. The business has a 50 day simple moving average of $3.57 and a 200-day simple moving average of $3.15. The company has a market capitalization of $137.62 million, a P/E ratio of -4.37 and a beta of 1.08. Clarus has a twelve month low of $2.53 and a twelve month high of $3.97.

Clarus (NASDAQ:CLAR - Get Free Report) last issued its quarterly earnings data 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. Clarus had a negative net margin of 12.44% and a positive return on equity of 4.35%. The firm had revenue of $56.16 million for the quarter, compared to the consensus estimate of $51.54 million. Research analysts predict that Clarus will post 0.26 EPS for the current fiscal year.

Institutional Trading of Clarus

A number of hedge funds have recently modified their holdings of the business. Two Sigma Securities LLC purchased a new position in shares of Clarus during the second quarter valued at $33,000. Ieq Capital LLC acquired a new stake in Clarus during the 2nd quarter worth about $69,000. Empowered Funds LLC purchased a new position in Clarus during the 2nd quarter valued at about $86,000. Marquette Asset Management LLC purchased a new position in Clarus during the 2nd quarter valued at about $92,000. Finally, Bank of America Corp DE increased its holdings in shares of Clarus by 21.1% in the 1st quarter. Bank of America Corp DE now owns 34,602 shares of the company's stock valued at $94,000 after purchasing an additional 6,032 shares during the period. Hedge funds and other institutional investors own 90.30% of the company's stock.

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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