Lake Street Capital Issues Positive Forecast for Clarus (NASDAQ:CLAR) Stock Price

Key Points

• Lake Street Capital raised Clarus’s price target from $3 to $4 but maintained a Hold rating; the target implies 20.32% downside from the current share price.
• Clarus reported quarterly EPS of $0.15, beating the $0.05 estimate, and revenue of $71.22 million, above the $66.84 million consensus.
• Analysts’ consensus rating is Hold, with an average price target of $4.31; shares opened at $5.02.

Clarus (NASDAQ:CLAR - Get Free Report) had its price objective increased by Lake Street Capital from $3.00 to $4.00 in a research report issued on Friday, Benzinga reports. The firm currently has a "hold" rating on the stock. Lake Street Capital's target price points to a potential downside of 20.32% from the company's current price.

CLAR has been the topic of several other reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Clarus in a research report on Monday, August 31st. Roth Capital raised their price objective on shares of Clarus from $2.90 to $3.75 and gave the stock a "neutral" rating in a research note on Monday, August 10th. B. Riley Financial lifted 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. Finally, Wall Street Zen raised Clarus from a "hold" rating to a "buy" rating in a research note on Sunday, September 27th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Clarus has an average rating of "Hold" and a consensus price target of $4.31.

Clarus Price Performance

Shares of CLAR stock opened at $5.02 on Friday. The stock has a market cap of $192.97 million, a P/E ratio of -7.28 and a beta of 1.02. Clarus has a fifty-two week low of $2.53 and a fifty-two week high of $5.18. The business has a fifty day simple moving average of $3.74 and a 200-day simple moving average of $3.29.

Clarus (NASDAQ:CLAR - Get Free Report) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.05 by $0.10. The business had revenue of $71.22 million for the quarter, compared to analyst estimates of $66.84 million. Clarus had a negative net margin of 10.44% and a positive return on equity of 7.27%. On average, sell-side analysts anticipate that Clarus will post 0.25 earnings per share for the current year.

Hedge Funds Weigh In On Clarus

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

Clarus Company Profile

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.

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