Wall Street Zen Downgrades Clarus (NASDAQ:CLAR) to Hold

Clarus (NASDAQ:CLAR) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday, Wall Street Zen reports.

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

Clarus Price Performance

CLAR opened at $3.58 on Friday. Clarus has a 12 month low of $2.53 and a 12 month high of $3.97. The company has a fifty day simple moving average of $3.55 and a 200 day simple moving average of $3.13. The stock has a market cap of $137.62 million, a P/E ratio of -4.37 and a beta of 1.08.

Clarus (NASDAQ:CLAR) last posted its earnings results on Thursday, August 6th. The company reported $0.18 earnings per share 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 for the quarter, compared to analyst estimates of $51.54 million. On average, equities research analysts expect that Clarus will post 0.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Clarus

Hedge funds and other institutional investors have recently bought and sold shares of the company. Squarepoint Ops LLC grew its stake in shares of Clarus by 88.8% during the 2nd quarter. Squarepoint Ops LLC now owns 127,426 shares of the company’s stock worth $401,000 after acquiring an additional 59,922 shares in the last quarter. Two Sigma Securities LLC acquired a new position in Clarus during the second quarter worth $33,000. Empowered Funds LLC acquired a new position in Clarus during the second quarter worth $86,000. Corient Private Wealth LP acquired a new position in Clarus during the second quarter worth $122,000. Finally, Ieq Capital LLC bought a new position in Clarus in the second quarter valued at $69,000. Institutional investors and hedge funds own 90.30% of the company’s stock.

Clarus Company Profile

Clarus Corporation (NASDAQ: CLAR) is a global company that designs, develops, manufactures and distributes outdoor equipment and related products. Its portfolio serves consumers and professionals in climbing, skiing, mountaineering, camping, cycling, trail sports, overlanding and other outdoor activities.

The company’s principal brands include Black Diamond Equipment, which offers climbing, mountain sports, ski and outdoor products; Rhino-Rack, which develops vehicle-based carrying and storage systems; and MAXTRAX, which produces vehicle recovery boards and related off-road equipment.