Clarus Co. (NASDAQ:CLAR) Expected to Post Quarterly Sales of $62.25 Million

Wall Street analysts expect that Clarus Co. (NASDAQ:CLAR) will announce $62.25 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Clarus’ earnings, with the lowest sales estimate coming in at $49.00 million and the highest estimate coming in at $67.80 million. Clarus posted sales of $30.01 million during the same quarter last year, which suggests a positive year-over-year growth rate of 107.4%. The company is scheduled to report its next quarterly earnings results after the market closes on Monday, August 2nd.

According to Zacks, analysts expect that Clarus will report full-year sales of $297.20 million for the current financial year, with estimates ranging from $296.00 million to $298.60 million. For the next year, analysts forecast that the business will report sales of $323.80 million, with estimates ranging from $312.00 million to $331.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Clarus.

Clarus (NASDAQ:CLAR) last announced its quarterly earnings results on Sunday, May 9th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.09. Clarus had a net margin of 4.55% and a return on equity of 11.59%. The firm had revenue of $75.33 million during the quarter, compared to analysts’ expectations of $70.35 million.

Several research analysts have weighed in on the stock. Lake Street Capital upped their target price on shares of Clarus from $29.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, July 6th. Zacks Investment Research downgraded shares of Clarus from a “buy” rating to a “hold” rating in a report on Monday, June 21st. Roth Capital upped their price target on shares of Clarus from $22.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, May 11th. Finally, DA Davidson upped their price target on shares of Clarus from $22.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, May 11th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $27.25.

Shares of NASDAQ:CLAR traded down $0.31 on Friday, reaching $28.24. The company’s stock had a trading volume of 1,456 shares, compared to its average volume of 245,710. Clarus has a 52-week low of $10.95 and a 52-week high of $28.70. The company has a quick ratio of 1.88, a current ratio of 3.79 and a debt-to-equity ratio of 0.11. The business has a 50-day moving average price of $24.80. The company has a market cap of $889.28 million, a PE ratio of 83.12 and a beta of 0.85.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 21st. Shareholders of record on Monday, May 10th were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.35%. The ex-dividend date was Friday, May 7th. Clarus’s dividend payout ratio is currently 18.87%.

In other news, Director Nicolas Sokolow sold 10,207 shares of the firm’s stock in a transaction dated Wednesday, June 16th. The shares were sold at an average price of $23.81, for a total value of $243,028.67. Following the transaction, the director now directly owns 97,743 shares in the company, valued at approximately $2,327,260.83. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last three months, insiders have sold 24,917 shares of company stock valued at $599,036. 26.90% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the stock. Brown Advisory Inc. increased its stake in Clarus by 12.2% during the 1st quarter. Brown Advisory Inc. now owns 3,228,461 shares of the company’s stock valued at $55,045,000 after buying an additional 351,366 shares during the period. Greenhouse Funds LLLP increased its stake in Clarus by 2.0% during the 4th quarter. Greenhouse Funds LLLP now owns 2,684,667 shares of the company’s stock valued at $41,344,000 after buying an additional 52,834 shares during the period. BlackRock Inc. increased its stake in Clarus by 3.7% during the 4th quarter. BlackRock Inc. now owns 1,446,358 shares of the company’s stock valued at $22,275,000 after buying an additional 51,740 shares during the period. Kennedy Capital Management Inc. increased its stake in Clarus by 7.8% during the 1st quarter. Kennedy Capital Management Inc. now owns 642,035 shares of the company’s stock valued at $10,947,000 after buying an additional 46,248 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Clarus by 4.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 606,074 shares of the company’s stock valued at $9,333,000 after buying an additional 27,904 shares during the period. Hedge funds and other institutional investors own 63.84% of the company’s stock.

About Clarus

Clarus Corporation focuses on the outdoor and consumer industries in the United States, Canada, Europe, the Middle East, Asia, Australia, New Zealand, Africa, and South America. The company develops, manufactures, and distributes outdoor equipment and lifestyle products focusing on the climb, ski, mountain, sport, and skincare markets.

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