B. Riley Boosts Clarus (NASDAQ:CLAR) Price Target to $9.00

Clarus (NASDAQ:CLAR) had its target price increased by B. Riley from $8.00 to $9.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. B. Riley’s target price would indicate a potential upside of 28.39% from the stock’s previous close.

A number of other research analysts also recently weighed in on CLAR. Roth Mkm upped their price objective on shares of Clarus from $6.50 to $7.50 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. StockNews.com raised Clarus to a “sell” rating in a report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $9.92.

Clarus Price Performance

CLAR stock traded down $0.30 during trading on Monday, hitting $7.01. 164,639 shares of the company traded hands, compared to its average volume of 277,815. Clarus has a 1 year low of $4.77 and a 1 year high of $9.58. The company has a market cap of $268.48 million, a PE ratio of 27.12 and a beta of 0.90. The stock’s 50-day simple moving average is $6.37 and its 200 day simple moving average is $6.06.

Clarus (NASDAQ:CLAR) last posted its earnings results on Thursday, March 7th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.12). Clarus had a net margin of 3.08% and a return on equity of 1.01%. The firm had revenue of $76.50 million for the quarter, compared to analysts’ expectations of $84.45 million. Research analysts expect that Clarus will post -0.01 earnings per share for the current year.

Hedge Funds Weigh In On Clarus

A number of hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC grew its stake in Clarus by 23.1% during the 4th quarter. SG Americas Securities LLC now owns 15,386 shares of the company’s stock valued at $106,000 after acquiring an additional 2,891 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Clarus by 30.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,530 shares of the company’s stock worth $105,000 after purchasing an additional 3,658 shares during the last quarter. Motley Fool Asset Management LLC grew its position in shares of Clarus by 2.0% in the third quarter. Motley Fool Asset Management LLC now owns 191,136 shares of the company’s stock valued at $1,445,000 after purchasing an additional 3,710 shares in the last quarter. NBC Securities Inc. acquired a new stake in shares of Clarus in the third quarter valued at approximately $31,000. Finally, BNP Paribas Financial Markets lifted its position in Clarus by 71.5% during the first quarter. BNP Paribas Financial Markets now owns 14,908 shares of the company’s stock worth $101,000 after buying an additional 6,213 shares in the last quarter. Institutional investors and hedge funds 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.