Clarus (NASDAQ:CLAR) Rating Lowered to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Clarus from “Buy” to “Hold,” while analysts overall have a consensus “Hold” rating and an average price target of $4.06.
• Clarus shares opened at $3.71, up 2.8%, with a market capitalization of approximately $142.6 million and a 52-week range of $2.53 to $4.03.
• The company exceeded quarterly expectations, reporting $0.18 in earnings per share versus a projected loss of $0.07 and revenue of $56.16 million versus estimates of $51.54 million.

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

A number of other equities analysts have also weighed in on CLAR. B. Riley Financial upped their target price on shares of Clarus from $4.00 to $4.50 and gave the stock a "buy" rating in a research note on Monday, August 10th. Roth Capital boosted their price target on Clarus from $2.90 to $3.75 and gave the company a "neutral" rating in a report on Monday, August 10th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Clarus in a report on Wednesday, June 3rd. Finally, Zacks Research lowered Clarus from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 27th. Two 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, the company currently has an average rating of "Hold" and a consensus target price of $4.06.

Clarus Trading Up 2.8%

CLAR opened at $3.71 on Friday. The stock has a market cap of $142.61 million, a price-to-earnings ratio of -4.52 and a beta of 1.05. The stock has a fifty day moving average price of $3.34 and a 200 day moving average price of $3.10. Clarus has a 1 year low of $2.53 and a 1 year high of $4.03.

Clarus (NASDAQ:CLAR - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.18 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $51.54 million. As a group, sell-side analysts forecast that Clarus will post 0.26 earnings per share for the current fiscal year.

Institutional Trading of Clarus

Institutional investors and hedge funds have recently bought and sold shares of the stock. Two Sigma Securities LLC acquired a new position in Clarus during the second quarter valued at approximately $33,000. Abel Hall LLC acquired a new position in shares of Clarus during the 4th quarter worth approximately $39,000. Verition Fund Management LLC bought a new stake in shares of Clarus during the 3rd quarter worth approximately $50,000. Quadrature Capital Ltd bought a new stake in shares of Clarus during the 4th quarter worth approximately $56,000. Finally, Virtu Financial LLC acquired a new stake in shares of Clarus in the 4th quarter valued at approximately $62,000. 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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