Clarus (NASDAQ:CLAR) Downgraded by Wall Street Zen to Hold

Wall Street Zen downgraded shares of Clarus (NASDAQ:CLAR) from a buy rating to a hold rating in a research note issued to investors on Sunday morning.

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

Clarus Stock Performance

Shares of NASDAQ:CLAR opened at $3.71 on Friday. The company has a market cap of $142.62 million, a price-to-earnings ratio of -4.52 and a beta of 1.05. Clarus has a 12 month low of $2.53 and a 12 month high of $4.03. The company has a 50-day moving average price of $3.34 and a 200 day moving average price of $3.09.

Clarus (NASDAQ:CLAR) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $56.16 million for the quarter, compared to analysts’ expectations of $51.54 million. As a group, equities analysts forecast that Clarus will post 0.26 EPS for the current year.

Clarus Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Monday, August 17th will be given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Monday, August 17th. Clarus’s payout ratio is -12.20%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CLAR. Potomac Capital Management Inc. bought a new stake in shares of Clarus during the 4th quarter worth approximately $3,244,000. GSA Capital Partners LLP bought a new position in Clarus in the 2nd quarter valued at $652,000. Gabelli Funds LLC grew its position in Clarus by 21.0% in the 4th quarter. Gabelli Funds LLC now owns 86,500 shares of the company’s stock valued at $290,000 after acquiring an additional 15,000 shares during the last quarter. Empowered Funds LLC purchased a new stake in Clarus in the second quarter worth $86,000. Finally, Corient Private Wealth LP purchased a new stake in Clarus in the second quarter worth $122,000. Institutional investors own 90.30% of the company’s stock.

Clarus Company Profile

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.