Clarus (CLAR) Rating Lowered to Buy at BidaskClub

BidaskClub lowered shares of Clarus (NASDAQ:CLAR) from a strong-buy rating to a buy rating in a research report released on Wednesday morning.

A number of other analysts have also recently weighed in on CLAR. ValuEngine raised shares of Clarus from a hold rating to a buy rating in a report on Friday, August 3rd. Stifel Nicolaus increased their price objective on shares of Clarus from $10.00 to $12.00 and gave the stock a buy rating in a report on Tuesday, August 7th. Lake Street Capital increased their price objective on shares of Clarus to $12.00 and gave the stock a buy rating in a report on Tuesday, August 7th. Roth Capital set a $10.00 price objective on shares of Clarus and gave the stock a hold rating in a report on Tuesday, August 7th. Finally, Zacks Investment Research raised shares of Clarus from a hold rating to a strong-buy rating and set a $12.00 price objective on the stock in a report on Monday, October 8th. Seven equities research analysts have rated the stock with a buy rating, The stock presently has a consensus rating of Buy and an average target price of $11.75.

CLAR stock opened at $10.21 on Wednesday. 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 fifty-two week low of $6.35 and a fifty-two week high of $12.00. The stock has a market capitalization of $306.72 million, a P/E ratio of 24.90, a PEG ratio of 2.22 and a beta of 1.33.

Clarus (NASDAQ:CLAR) last released its quarterly earnings data on Monday, August 6th. The company reported $0.09 earnings per share for the quarter, topping the Zacks’ 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 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 16th. Investors of record on Friday, November 2nd will be given a $0.025 dividend. The ex-dividend date of this dividend is Thursday, November 1st. This represents a $0.10 dividend on an annualized basis and a yield of 0.98%. Clarus’s dividend payout ratio is presently 83.33%.

A number of institutional investors and hedge funds have recently made changes to their positions in CLAR. Algert Global LLC bought a new position in Clarus in the 2nd quarter valued at about $106,000. Engineers Gate Manager LP bought a new position in shares of Clarus during the 3rd quarter valued at about $187,000. Bank of America Corp DE boosted its position in shares of Clarus by 62.5% during the 2nd quarter. Bank of America Corp DE now owns 37,448 shares of the company’s stock valued at $309,000 after purchasing an additional 14,401 shares in the last quarter. LPL Financial LLC bought a new position in shares of Clarus during the 1st quarter valued at about $314,000. Finally, GSA Capital Partners LLP boosted its position in shares of Clarus by 183.8% during the 2nd quarter. GSA Capital Partners LLP now owns 45,856 shares of the company’s stock valued at $378,000 after purchasing an additional 29,700 shares in the last quarter. Hedge funds and other institutional investors own 52.12% 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.

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