Clarus (NASDAQ:CLAR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Clarus (NASDAQ:CLAR) from a hold rating to a buy rating in a research note published on Saturday.

CLAR has been the subject of a number of other reports. Roth Capital raised their price objective on shares of Clarus from $2.90 to $3.75 and gave the company a “neutral” rating in a research report on Monday, August 10th. B. Riley Financial raised their price target on shares of Clarus from $4.00 to $4.50 and gave the company a “buy” rating in a report on Monday, August 10th. Zacks Research cut shares of Clarus from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Clarus in a research report on Wednesday, June 3rd. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $4.06.

Clarus Stock Performance

Shares of CLAR opened at $3.63 on Friday. The stock’s 50-day simple moving average is $3.29 and its 200 day simple moving average is $3.09. The stock has a market capitalization of $139.54 million, a price-to-earnings ratio of -4.43 and a beta of 1.05. Clarus has a 52-week low of $2.53 and a 52-week high of $4.03.

Clarus (NASDAQ:CLAR) last posted its earnings results on Thursday, August 6th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $56.16 million during the quarter, compared to analyst estimates of $51.54 million.

Clarus Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Monday, August 17th will be given a dividend of $0.025 per share. The ex-dividend date is Monday, August 17th. This represents a $0.10 annualized dividend and a dividend yield of 2.8%. Clarus’s payout ratio is currently -12.20%.

Institutional Trading of Clarus

Hedge funds have recently modified their holdings of the business. Potomac Capital Management Inc. purchased a new stake in Clarus in the fourth quarter worth about $3,244,000. Gabelli Funds LLC lifted its holdings in shares of Clarus by 21.0% during the fourth quarter. Gabelli Funds LLC now owns 86,500 shares of the company’s stock valued at $290,000 after purchasing an additional 15,000 shares during the last quarter. Abel Hall LLC bought a new stake in shares of Clarus in the 4th quarter worth approximately $39,000. Bank of America Corp DE boosted its position in shares of Clarus by 21.1% in the 1st quarter. Bank of America Corp DE now owns 34,602 shares of the company’s stock worth $94,000 after purchasing an additional 6,032 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Clarus in the 2nd quarter worth approximately $557,000. Institutional investors own 90.30% of the company’s stock.

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.