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

Clarus (NASDAQ:CLAR) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Sunday.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clarus in a research note on Wednesday, June 3rd. B. Riley Financial increased their price target on shares of Clarus from $4.00 to $4.50 and gave the company a “buy” rating in a research report on Monday, August 10th. Zacks Research downgraded shares of Clarus from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Finally, Roth Capital lifted their price objective on shares of Clarus from $2.90 to $3.75 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $4.06.

Clarus Stock Up 3.0%

CLAR stock opened at $3.82 on Friday. The firm has a market cap of $146.84 million, a PE ratio of -4.66 and a beta of 1.05. The business has a 50 day moving average of $3.35 and a 200-day moving average of $3.09. Clarus has a 12-month low of $2.53 and a 12-month high of $4.03.

Clarus (NASDAQ:CLAR) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.25. Clarus had a positive return on equity of 4.35% and a negative net margin of 12.44%.The business had revenue of $56.16 million for the quarter, compared to analyst estimates of $51.54 million. On average, research analysts expect that Clarus will post 0.26 earnings per share for the current year.

Institutional Investors Weigh In On Clarus

Institutional investors have recently added to or reduced their stakes in the business. Two Sigma Securities LLC purchased a new position in shares of Clarus in the second quarter worth about $33,000. Abel Hall LLC purchased a new stake in shares of Clarus during the 4th quarter valued at approximately $39,000. Verition Fund Management LLC purchased a new stake in shares of Clarus during the 3rd quarter valued at approximately $50,000. Quadrature Capital Ltd bought a new position in Clarus in the 4th quarter worth approximately $56,000. Finally, Virtu Financial LLC purchased a new position in Clarus in the 4th quarter valued at approximately $62,000. 90.30% of the stock is owned by hedge funds and other institutional investors.

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.