Clarus (NASDAQ:CLAR) Upgraded by Wall Street Zen to “Buy” Rating

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

Several other brokerages have also issued reports on CLAR. Zacks Research lowered Clarus from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Roth Capital boosted their target price on Clarus from $2.90 to $3.75 and gave the company a “neutral” rating in a report on Monday, August 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Clarus in a research report on Wednesday, June 3rd. Finally, B. Riley Financial upped their target price on Clarus from $4.00 to $4.50 and gave the company a “buy” rating in a research report on Monday, August 10th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Clarus currently has an average rating of “Hold” and an average target price of $4.06.

Clarus Trading Down 3.7%

Shares of Clarus stock opened at $3.65 on Friday. The company has a fifty day simple moving average of $3.27 and a 200-day simple moving average of $3.10. The stock has a market cap of $140.31 million, a price-to-earnings ratio of -4.45 and a beta of 1.05. Clarus has a 12-month low of $2.53 and a 12-month high of $4.03.

Clarus (NASDAQ:CLAR) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.25. Clarus had a negative net margin of 12.44% and a positive return on equity of 4.35%. The firm had revenue of $56.16 million for the quarter, compared to analyst estimates of $51.54 million.

Clarus Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Monday, August 17th will be paid a dividend of $0.025 per share. The ex-dividend date is Monday, August 17th. This represents a $0.10 dividend on an annualized basis and a yield of 2.7%. Clarus’s dividend payout ratio is currently -12.20%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CLAR. Abel Hall LLC acquired a new position in Clarus in the fourth quarter valued at $39,000. Verition Fund Management LLC acquired a new stake in shares of Clarus during the third quarter worth about $50,000. Quadrature Capital Ltd acquired a new stake in shares of Clarus during the fourth quarter worth about $56,000. Virtu Financial LLC purchased a new position in shares of Clarus during the fourth quarter worth about $62,000. Finally, Ieq Capital LLC purchased a new position in shares of Clarus during the second quarter worth about $69,000. 90.30% of the stock is owned by hedge funds and other institutional investors.

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.