Clarus (NASDAQ:CLAR) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Clarus (NASDAQ:CLAR) from a hold rating to a buy rating in a research report report published on Saturday morning,Wall Street Zen reports.

Several other research analysts have also recently issued reports on CLAR. B. Riley Financial lifted their target price on shares of Clarus from $4.00 to $4.50 and gave the stock a “buy” rating in a report on Monday, August 10th. Zacks Research cut shares of Clarus from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Roth Capital raised their price target on shares of Clarus from $2.90 to $3.75 and gave the company a “neutral” rating in a research report on Monday, August 10th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Clarus in a report on Monday, August 31st. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $4.06.

Clarus Price Performance

Shares of NASDAQ:CLAR opened at $3.75 on Friday. Clarus has a 1-year low of $2.53 and a 1-year high of $4.03. The business has a fifty day moving average price of $3.47 and a 200-day moving average price of $3.11. The company has a market capitalization of $144.15 million, a PE ratio of -4.57 and a beta of 1.08.

Clarus (NASDAQ:CLAR) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.18 earnings per share (EPS) 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 firm had revenue of $56.16 million during the quarter, compared to analyst estimates of $51.54 million. On average, sell-side analysts anticipate that Clarus will post 0.26 earnings per share for the current fiscal year.

Clarus Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Monday, August 17th were issued a $0.025 dividend. The ex-dividend date was Monday, August 17th. This represents a $0.10 annualized dividend and a yield of 2.7%. Clarus’s dividend payout ratio (DPR) is currently -12.20%.

Institutional Investors Weigh In On Clarus

A number of large investors have recently added to or reduced their stakes in CLAR. Two Sigma Securities LLC bought a new position in shares of Clarus during the 2nd quarter valued at $33,000. Abel Hall LLC purchased a new position in shares of Clarus in the 4th quarter worth $39,000. Verition Fund Management LLC bought a new stake in shares of Clarus in the third quarter worth $50,000. Quadrature Capital Ltd bought a new stake in shares of Clarus in the fourth quarter worth $56,000. Finally, Virtu Financial LLC purchased a new stake in Clarus during the fourth quarter valued at $62,000. Institutional investors own 90.30% of the company’s stock.

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.