Lake Street Capital Reiterates "Hold" Rating for Clarus (NASDAQ:CLAR)

Key Points

• Lake Street Capital has reiterated a "hold" rating for Clarus (NASDAQ:CLAR), with a target price of $3.50, indicating a potential downside of 2.78% from its previous close.
• Clarus shares are currently trading at $3.60, having recently experienced a 3.5% decline in value.
• Institutional investors own approximately 90.30% of Clarus's stock, suggesting strong confidence from major financial entities in the company's performance.

Clarus (NASDAQ:CLAR - Get Free Report)'s stock had its "hold" rating reiterated by equities research analysts at Lake Street Capital in a research note issued to investors on Friday. They presently have a $3.50 target price on the stock. Lake Street Capital's target price indicates a potential downside of 2.78% from the company's previous close.

Other analysts also recently issued reports about the company. Roth Capital set a $3.50 price objective on Clarus and gave the stock a "neutral" rating in a research report on Wednesday, May 14th. Stifel Nicolaus dropped their target price on Clarus from $8.00 to $7.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Clarus currently has an average rating of "Hold" and an average price target of $5.00.

Clarus Stock Down 3.5%

NASDAQ:CLAR opened at $3.60 on Friday. The firm has a market capitalization of $138.24 million, a price-to-earnings ratio of -1.74 and a beta of 0.87. Clarus has a twelve month low of $3.02 and a twelve month high of $6.32. The stock's 50 day moving average price is $3.53 and its two-hundred day moving average price is $3.85.

Insider Transactions at Clarus

In related news, Chairman Warren B. Kanders bought 10,394 shares of the stock in a transaction dated Monday, June 23rd. The stock was bought at an average price of $3.48 per share, with a total value of $36,171.12. Following the purchase, the chairman owned 4,155,326 shares in the company, valued at approximately $14,460,534.48. The trade was a 0.25% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 20.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Clarus

A number of hedge funds and other institutional investors have recently modified their holdings of CLAR. Wells Fargo & Company MN increased its holdings in Clarus by 26.6% during the 4th quarter. Wells Fargo & Company MN now owns 18,119 shares of the company's stock valued at $82,000 after purchasing an additional 3,810 shares during the period. Bank of America Corp DE lifted its position in Clarus by 14.6% in the 4th quarter. Bank of America Corp DE now owns 33,093 shares of the company's stock valued at $149,000 after acquiring an additional 4,211 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in Clarus by 38.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 15,864 shares of the company's stock valued at $72,000 after acquiring an additional 4,371 shares in the last quarter. Gabelli Funds LLC lifted its holdings in shares of Clarus by 9.1% during the 1st quarter. Gabelli Funds LLC now owns 60,000 shares of the company's stock valued at $225,000 after buying an additional 5,000 shares during the period. Finally, Barclays PLC lifted its holdings in shares of Clarus by 13.4% during the 4th quarter. Barclays PLC now owns 45,897 shares of the company's stock valued at $207,000 after buying an additional 5,419 shares during the period. Institutional investors own 90.30% of the company's stock.

About Clarus

Clarus Corporation designs, develops, manufactures, and distributes outdoor equipment and lifestyle products in the United States and internationally. The company operates through two segments, Outdoor and Adventure. The Outdoor segment offers apparels, such as shells, insulation, midlayers, pants, and logowear; rock-climbing footwear and equipment, including carabiners, protection devices, harnesses, belay devices, helmets, and ice-climbing gears; technical backpacks and day packs; trekking poles; headlamps and lanterns; gloves and mittens; and skis, ski poles, ski skins, avalanche airbag systems, avalanche transceivers, shovels, and probes.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.