Clarus (NASDAQ:CLAR) Price Target Raised to $4.00

Clarus (NASDAQ:CLAR) had its target price raised by Lake Street Capital from $3.00 to $4.00 in a report released on Friday morning,Benzinga reports. They currently have a hold rating on the stock.

Several other brokerages also recently commented on CLAR. Wall Street Zen upgraded Clarus from a “hold” rating to a “buy” rating in a research note on Sunday, September 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Clarus in a research note on Monday, August 31st. Roth Capital increased their price target on Clarus from $2.90 to $3.75 and gave the company a “neutral” rating in a research note on Monday, August 10th. Finally, B. Riley Financial lifted their price objective on shares of Clarus from $4.00 to $4.50 and gave the stock a “buy” rating in a research report on Monday, August 10th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $4.31.

Clarus Price Performance

Clarus stock opened at $5.02 on Friday. The company’s 50-day moving average is $3.74 and its 200-day moving average is $3.29. The firm has a market capitalization of $192.97 million, a PE ratio of -7.28 and a beta of 1.02. Clarus has a fifty-two week low of $2.53 and a fifty-two week high of $5.18.

Clarus (NASDAQ:CLAR) last issued its earnings results on Thursday, November 5th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.10. The business had revenue of $71.22 million during 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, analysts expect that Clarus will post 0.25 EPS for the current year.

Clarus Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 25th. Stockholders of record on Monday, November 16th will be paid a dividend of $0.0250 per share. The ex-dividend date is Monday, November 16th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 2.0%. Clarus’s dividend payout ratio (DPR) is -14.49%.

Hedge Funds Weigh In On Clarus

Several institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. bought a new stake in Clarus in the 2nd quarter valued at about $1,454,000. Gamco Investors INC. ET AL grew its position in shares of Clarus by 11.1% during the 1st quarter. Gamco Investors INC. ET AL now owns 350,000 shares of the company’s stock worth $952,000 after purchasing an additional 35,000 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Clarus during the second quarter worth approximately $652,000. Bank of New York Mellon Corp bought a new position in shares of Clarus during the second quarter worth approximately $557,000. Finally, Squarepoint Ops LLC increased its holdings in shares of Clarus by 88.8% during the second 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. 90.30% of the stock is currently owned by institutional investors and hedge funds.

About Clarus

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.