Clarus (NASDAQ:CLAR) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of Clarus (NASDAQ:CLAR) from a hold rating to a strong-buy rating in a research note published on Monday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the company. Roth Mkm reduced their target price on Clarus from $3.50 to $3.25 and set a “neutral” rating for the company in a report on Friday, March 6th. Lake Street Capital lowered their price target on Clarus from $3.50 to $3.00 and set a “hold” rating on the stock in a research note on Friday, March 6th. Wall Street Zen upgraded Clarus from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Finally, Stifel Nicolaus set a $5.00 price objective on Clarus in a research note on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $3.75.

Clarus Stock Up 8.1%

Shares of NASDAQ CLAR opened at $2.81 on Monday. The firm has a market cap of $108.02 million, a price-to-earnings ratio of -2.32 and a beta of 1.02. The company’s 50-day simple moving average is $2.84 and its 200-day simple moving average is $3.25. Clarus has a 52-week low of $2.58 and a 52-week high of $4.03.

Clarus (NASDAQ:CLAR) last released its quarterly earnings results 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 firm had revenue of $65.41 million during the quarter, compared to the consensus estimate of $68.67 million. Clarus had a negative net margin of 18.59% and a negative return on equity of 0.82%. Equities research analysts anticipate that Clarus will post 0.08 EPS for the current fiscal year.

Clarus Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Monday, March 16th were issued a $0.025 dividend. The ex-dividend date was Monday, March 16th. This represents a $0.10 dividend on an annualized basis and a yield of 3.6%. Clarus’s dividend payout ratio is presently -8.26%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CLAR. Abel Hall LLC acquired a new stake in shares of Clarus in the fourth quarter valued at approximately $39,000. Verition Fund Management LLC purchased a new position in Clarus during the third quarter worth approximately $50,000. Quadrature Capital Ltd acquired a new position in Clarus during the fourth quarter worth $56,000. Virtu Financial LLC purchased a new stake in Clarus in the 4th quarter valued at $62,000. Finally, Millennium Management LLC purchased a new stake in Clarus in the 4th quarter valued at $70,000. 90.30% of the stock is currently 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.