Clarus (NASDAQ:CLAR) Stock Gets Price Target Boost from Lake Street Capital

Clarus (NASDAQ:CLAR) had its target price lifted by equities research analysts at Lake Street Capital from $3.00 to $4.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “hold” rating on the stock. Lake Street Capital‘s price target points to a potential downside of 20.32% from the stock’s previous close.

Other analysts also recently issued reports about the company. Wall Street Zen upgraded Clarus from a “hold” rating to a “buy” rating in a report on Sunday, September 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Clarus in a research report on Monday, August 31st. B. Riley Financial boosted their price target on Clarus from $4.00 to $4.50 and gave the company a “buy” rating in a research report on Monday, August 10th. Finally, Roth Capital upped their price target on Clarus from $2.90 to $3.75 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $4.31.

Clarus Stock Performance

Shares of CLAR stock opened at $5.02 on Friday. Clarus has a one year low of $2.53 and a one year high of $5.18. The company has a 50 day moving average price of $3.74 and a 200 day moving average price of $3.29. The firm has a market capitalization of $192.97 million, a price-to-earnings ratio of -7.28 and a beta of 1.02.

Clarus (NASDAQ:CLAR) last posted its quarterly earnings results on Thursday, November 5th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.10. The company had revenue of $71.22 million for the quarter, compared to the consensus estimate of $66.84 million. Clarus had a negative net margin of 10.44% and a positive return on equity of 7.27%. As a group, equities analysts forecast that Clarus will post 0.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Clarus

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Squarepoint Ops LLC boosted its position in Clarus by 88.8% during the 2nd quarter. Squarepoint Ops LLC now owns 127,426 shares of the company’s stock worth $401,000 after purchasing an additional 59,922 shares during the period. Two Sigma Securities LLC purchased a new position in Clarus in the second quarter valued at about $33,000. Empowered Funds LLC acquired a new position in shares of Clarus during the second quarter worth about $86,000. Corient Private Wealth LP acquired a new position in shares of Clarus during the second quarter worth about $122,000. Finally, Ieq Capital LLC purchased a new stake in shares of Clarus in the second quarter worth about $69,000. Institutional investors and hedge funds own 90.30% of the company’s stock.

Clarus Company Profile

Clarus Corporation (NASDAQ: CLAR) is an outdoor equipment and lifestyle products company headquartered in Salt Lake City, Utah. The company develops, manufactures and markets products for climbing, mountaineering, skiing, camping, overlanding and other outdoor activities.

Clarus’s portfolio includes Black Diamond Equipment, which offers climbing and mountaineering gear, skis, ski equipment, apparel and accessories. The company also owns Rhino-Rack, a provider of vehicle-based storage and transportation systems, and MAXTRAX, which makes vehicle recovery boards and related off-road products.