Clarus (CLAR) Upgraded by Zacks Investment Research to “Buy”

Clarus (NASDAQ:CLAR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The brokerage presently has a $12.00 price objective on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 16.50% from the stock’s previous close.

According to Zacks, “Clarus Corporation engages in design, manufacture and marketing of outdoor equipment and apparel for climbing, mountaineering, backpacking, skiing and other outdoor recreation activities. Its brands include Black Diamond and PIEPS. Black Diamond Equipment is a manufacturer of active outdoor equipment and clothing for the climbing, skiing and mountain sports markets. PIEPS is a designer and marketer of avalanche beacons and snow safety products. Clarus Corporation, formerly known as Black Diamond Inc., is headquartered in Salt Lake City, UT. “

Several other equities analysts have also recently commented on CLAR. BidaskClub raised shares of Clarus from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, October 3rd. Stifel Nicolaus increased their price target on shares of Clarus from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, August 7th. Roth Capital set a $10.00 price target on shares of Clarus and gave the stock a “hold” rating in a research report on Tuesday, August 7th. ValuEngine raised shares of Clarus from a “hold” rating to a “buy” rating in a research report on Friday, August 3rd. Finally, Lake Street Capital increased their price target on shares of Clarus to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, August 7th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $12.25.

Shares of CLAR stock traded down $0.11 during trading hours on Wednesday, hitting $10.30. 228,800 shares of the company were exchanged, compared to its average volume of 86,285. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.72 and a current ratio of 4.37. Clarus has a one year low of $6.35 and a one year high of $12.00. The stock has a market capitalization of $331.96 million, a price-to-earnings ratio of 85.83, a PEG ratio of 2.40 and a beta of 1.44.

Clarus (NASDAQ:CLAR) last issued its quarterly earnings results on Monday, August 6th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.13. Clarus had a net margin of 2.06% and a return on equity of 7.41%. The business had revenue of $45.88 million for the quarter, compared to analysts’ expectations of $40.80 million. As a group, research analysts forecast that Clarus will post 0.46 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Algert Global LLC acquired a new stake in Clarus during the second quarter worth about $106,000. Bank of America Corp DE raised its stake in Clarus by 62.5% during the second quarter. Bank of America Corp DE now owns 37,448 shares of the company’s stock worth $309,000 after acquiring an additional 14,401 shares during the period. Mesirow Financial Investment Management Inc. raised its stake in Clarus by 53.3% during the second quarter. Mesirow Financial Investment Management Inc. now owns 47,499 shares of the company’s stock worth $392,000 after acquiring an additional 16,524 shares during the period. GSA Capital Partners LLP raised its stake in Clarus by 183.8% during the second quarter. GSA Capital Partners LLP now owns 45,856 shares of the company’s stock worth $378,000 after acquiring an additional 29,700 shares during the period. Finally, Millennium Management LLC raised its stake in Clarus by 57.4% during the first quarter. Millennium Management LLC now owns 100,113 shares of the company’s stock worth $676,000 after acquiring an additional 36,505 shares during the period. Hedge funds and other institutional investors own 52.13% of the company’s stock.

About Clarus

Clarus Corporation, a holding company, focuses on the outdoor and consumer industries. The company develops, manufactures, and distributes outdoor equipment and lifestyle products with focus on the climb, ski, mountain, and sport categories. It operates in two segments, Black Diamond and Sierra. The Black Diamond segment offers high performance apparel, such as jackets, shells, pants, and bibs; rock-climbing equipment comprising carabiners, protection devices, harnesses, belay devices, helmets, and ice-climbing gears; technical backpacks and high-end day packs; tents; trekking poles; headlamps and lanterns; and gloves and mittens.

Recommended Story: Hedge Funds Explained

Get a free copy of the Zacks research report on Clarus (CLAR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Clarus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clarus and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply