Clarus (NASDAQ:CLAR) Raised to Strong-Buy at Zacks Research

Clarus (NASDAQ:CLAR - Get Free Report) was upgraded by research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued to investors on Monday,Zacks.com reports.

Several other analysts have also recently issued reports on CLAR. Wall Street Zen raised Clarus from a "sell" rating to a "hold" rating in a research note on Saturday, April 11th. Roth Mkm dropped their price objective on Clarus from $3.50 to $3.25 and set a "neutral" rating for the company in a report on Friday, March 6th. Lake Street Capital cut their price objective on Clarus from $3.50 to $3.00 and set a "hold" rating on the stock in a research report on Friday, March 6th. Finally, Stifel Nicolaus set a $5.00 target price on Clarus in a research note on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $3.75.

Clarus Stock Up 8.1%

Shares of CLAR opened at $2.81 on Monday. The stock has a market capitalization of $108.02 million, a P/E ratio of -2.32 and a beta of 1.02. The firm has a fifty day simple moving average of $2.84 and a two-hundred day simple moving average of $3.25. Clarus has a twelve month low of $2.58 and a twelve month high of $4.03.

Clarus (NASDAQ:CLAR - Get Free Report) last released its quarterly earnings data on Thursday, March 5th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.03. The firm had revenue of $65.41 million for the quarter, compared to analysts' expectations of $68.67 million. Clarus had a negative net margin of 18.59% and a negative return on equity of 0.82%. Sell-side analysts expect that Clarus will post 0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Clarus

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Parthenon LLC boosted its holdings in shares of Clarus by 64.4% during the 3rd quarter. Parthenon LLC now owns 720,240 shares of the company's stock valued at $2,521,000 after buying an additional 282,103 shares in the last quarter. Gamco Investors INC. ET AL increased its stake in shares of Clarus by 3.8% in the 3rd quarter. Gamco Investors INC. ET AL now owns 315,000 shares of the company's stock worth $1,102,000 after acquiring an additional 11,500 shares in the last quarter. GSA Capital Partners LLP increased its stake in shares of Clarus by 195.7% in the 3rd quarter. GSA Capital Partners LLP now owns 84,250 shares of the company's stock worth $295,000 after acquiring an additional 55,754 shares in the last quarter. Peapod Lane Capital LLC lifted its position in Clarus by 9.3% during the 3rd quarter. Peapod Lane Capital LLC now owns 530,183 shares of the company's stock valued at $1,855,000 after acquiring an additional 44,963 shares during the period. Finally, Quadrature Capital Ltd bought a new stake in Clarus during the fourth quarter worth about $56,000. Hedge funds and other institutional investors own 90.30% of the company's stock.

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.

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