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

Clarus (NASDAQ:CLAR) had its price target upped by equities research analysts at B. Riley from $8.00 to $9.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley’s price objective indicates a potential upside of 28.39% from the company’s previous close.

Several other equities analysts have also recently commented on the stock. StockNews.com upgraded shares of Clarus to a “sell” rating in a research report on Thursday, April 11th. Roth Mkm boosted their target price on shares of Clarus from $6.50 to $7.50 and gave the company a “buy” rating in a research report on Wednesday, March 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $9.92.

Clarus Price Performance

CLAR stock traded down $0.30 during trading hours on Monday, reaching $7.01. The stock had a trading volume of 164,639 shares, compared to its average volume of 277,815. The stock has a market capitalization of $268.48 million, a PE ratio of 27.12 and a beta of 0.90. The stock has a 50-day simple moving average of $6.37 and a 200 day simple moving average of $6.06. Clarus has a fifty-two week low of $4.77 and a fifty-two week high of $9.58.

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

Institutional Investors Weigh In On Clarus

Several hedge funds and other institutional investors have recently made changes to their positions in CLAR. NBC Securities Inc. bought a new stake in shares of Clarus in the 3rd quarter worth $31,000. Aigen Investment Management LP purchased a new position in shares of Clarus in the 3rd quarter worth approximately $92,000. SG Americas Securities LLC purchased a new position in Clarus in the third quarter worth $94,000. BNP Paribas Financial Markets boosted its position in Clarus by 71.5% in the first quarter. BNP Paribas Financial Markets now owns 14,908 shares of the company’s stock worth $101,000 after purchasing an additional 6,213 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Clarus by 30.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,530 shares of the company’s stock valued at $105,000 after purchasing an additional 3,658 shares during the period. 90.30% of the stock is owned by institutional investors.

Clarus Company Profile

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.