Clarus (NASDAQ:CLAR) Rating Lowered to Hold at Zacks Research

Clarus (NASDAQ:CLAR) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

CLAR has been the topic of several other research reports. Lake Street Capital dropped their target price on Clarus from $3.50 to $3.00 and set a “hold” rating on the stock in a report on Friday, March 6th. Roth Mkm set a $2.90 target price on Clarus in a report on Wednesday, May 13th. Stifel Nicolaus set a $5.00 target price on Clarus in a report on Thursday, April 16th. Finally, Wall Street Zen upgraded Clarus from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Clarus has a consensus rating of “Hold” and a consensus target price of $3.63.

Clarus Price Performance

CLAR stock opened at $3.11 on Wednesday. The stock has a market capitalization of $119.55 million, a P/E ratio of -2.68 and a beta of 1.02. The business has a 50-day moving average of $2.78 and a 200-day moving average of $3.19. Clarus has a fifty-two week low of $2.53 and a fifty-two week high of $4.03.

Clarus (NASDAQ:CLAR) last posted its quarterly earnings data on Thursday, March 5th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.03. The company had revenue of $65.41 million during the quarter, compared to analysts’ expectations of $68.67 million. Clarus had a negative return on equity of 0.11% and a negative net margin of 17.70%.

Institutional Trading of Clarus

A number of hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC lifted its position in shares of Clarus by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 702,446 shares of the company’s stock valued at $2,354,000 after buying an additional 3,611 shares during the last quarter. Barclays PLC lifted its position in shares of Clarus by 11.1% in the fourth quarter. Barclays PLC now owns 46,299 shares of the company’s stock valued at $155,000 after buying an additional 4,644 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Clarus by 21.1% in the first quarter. Bank of America Corp DE now owns 34,602 shares of the company’s stock valued at $94,000 after buying an additional 6,032 shares during the last quarter. Gabelli Funds LLC lifted its position in shares of Clarus by 16.7% in the second quarter. Gabelli Funds LLC now owns 70,000 shares of the company’s stock valued at $243,000 after buying an additional 10,000 shares during the last quarter. Finally, Jane Street Group LLC lifted its position in shares of Clarus by 35.4% in the second quarter. Jane Street Group LLC now owns 38,569 shares of the company’s stock valued at $134,000 after buying an additional 10,094 shares during the last quarter. 90.30% of the stock is owned by institutional investors and hedge funds.

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.