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

Key Points

• Wall Street Zen upgraded Clarus from “hold” to “buy,” while B. Riley also maintained a buy rating and raised its price target to $4.50.
• Analyst sentiment remains mixed overall: two analysts rate Clarus a Buy, three rate it Hold and one rates it Sell, resulting in a consensus “Hold” rating and $4.06 price target.
• Clarus reported quarterly EPS of $0.18, beating the consensus estimate of a $0.07 loss, while revenue of $56.16 million exceeded expectations. Institutional investors own approximately 90.3% of the company.

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

Several other analysts have also issued reports on CLAR. B. Riley Financial upped their target price on Clarus from $4.00 to $4.50 and gave the stock a "buy" rating in a report on Monday. Zacks Research downgraded Clarus from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 27th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Clarus in a research report on Wednesday, June 3rd. Finally, Roth Capital increased their price objective on Clarus from $2.90 to $3.75 and gave the company a "neutral" rating in a report on Monday. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $4.06.

Clarus Trading Down 3.7%

Clarus stock opened at $3.65 on Friday. Clarus has a 1-year low of $2.53 and a 1-year high of $4.03. The company has a fifty day simple moving average of $3.27 and a 200 day simple moving average of $3.10. The company has a market cap of $140.31 million, a P/E ratio of -4.45 and a beta of 1.05.

Clarus (NASDAQ:CLAR - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.18 EPS for the quarter, topping 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 analysts' expectations of $51.54 million.

Institutional Investors Weigh In On Clarus

A number of large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its position in Clarus by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 702,446 shares of the company's stock worth $2,354,000 after purchasing an additional 3,611 shares during the period. Barclays PLC raised its position in shares of Clarus by 11.1% in the fourth quarter. Barclays PLC now owns 46,299 shares of the company's stock valued at $155,000 after purchasing an additional 4,644 shares during the period. Bank of America Corp DE raised its position in shares of Clarus by 21.1% in the first 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. Gabelli Funds LLC raised its position in shares of Clarus by 16.7% in the second quarter. Gabelli Funds LLC now owns 70,000 shares of the company's stock valued at $243,000 after purchasing an additional 10,000 shares during the period. Finally, Jane Street Group LLC lifted its stake in shares of Clarus by 35.4% during the 2nd quarter. Jane Street Group LLC now owns 38,569 shares of the company's stock worth $134,000 after buying an additional 10,094 shares during the last quarter. Institutional investors own 90.30% of the company's stock.

Clarus Company Profile

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.

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