Zacks Investment Research Lowers Clarus (CLAR) to Hold

Zacks Investment Research downgraded shares of Clarus (NASDAQ:CLAR) from a buy rating to a hold rating in a research note issued to investors on Monday.

According to Zacks, “Clarus Corporation engages in design, manufacture and marketing of outdoor equipment and apparel for climbing, mountaineering, backpacking, skiing and other outdoor recreation activities. Its brands include Black Diamond and PIEPS. Black Diamond Equipment is a manufacturer of active outdoor equipment and clothing for the climbing, skiing and mountain sports markets. PIEPS is a designer and marketer of avalanche beacons and snow safety products. Clarus Corporation, formerly known as Black Diamond Inc., is headquartered in Salt Lake City, UT. “

CLAR has been the subject of several other research reports. BidaskClub lowered shares of Clarus from a strong-buy rating to a buy rating in a report on Friday, September 21st. Roth Capital upgraded shares of Clarus from a neutral rating to a buy rating and raised their price target for the stock from $9.50 to $13.00 in a report on Monday, October 1st. ValuEngine upgraded shares of Clarus from a hold rating to a buy rating in a report on Friday, August 3rd. Lake Street Capital raised their price target on shares of Clarus to $12.00 and gave the stock a buy rating in a report on Tuesday, August 7th. Finally, Stifel Nicolaus raised their price target on shares of Clarus from $10.00 to $12.00 and gave the stock a buy rating in a report on Tuesday, August 7th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $12.25.

NASDAQ:CLAR traded up $0.24 during mid-day trading on Monday, hitting $9.48. 1,447 shares of the company’s stock were exchanged, compared to its average volume of 133,090. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.37 and a quick ratio of 1.72. Clarus has a fifty-two week low of $6.35 and a fifty-two week high of $12.00. The company has a market cap of $289.90 million, a PE ratio of 77.92, a P/E/G ratio of 2.10 and a beta of 1.44.

Clarus (NASDAQ:CLAR) last released its quarterly earnings results on Monday, August 6th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.13. Clarus had a net margin of 2.06% and a return on equity of 7.41%. The firm had revenue of $45.88 million during the quarter, compared to analyst estimates of $40.80 million. Equities research analysts expect that Clarus will post 0.46 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 16th. Shareholders of record on Friday, November 2nd will be issued a dividend of $0.025 per share. The ex-dividend date of this dividend is Thursday, November 1st. This represents a $0.10 annualized dividend and a yield of 1.05%. Clarus’s payout ratio is 83.33%.

A number of institutional investors have recently added to or reduced their stakes in the business. GSA Capital Partners LLP increased its stake in shares of Clarus by 183.8% in the 2nd quarter. GSA Capital Partners LLP now owns 45,856 shares of the company’s stock valued at $378,000 after acquiring an additional 29,700 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Clarus by 9.1% in the 2nd quarter. Renaissance Technologies LLC now owns 956,542 shares of the company’s stock valued at $7,891,000 after acquiring an additional 79,742 shares in the last quarter. Fairpointe Capital LLC increased its stake in shares of Clarus by 82.2% in the 2nd quarter. Fairpointe Capital LLC now owns 110,844 shares of the company’s stock valued at $914,000 after acquiring an additional 50,000 shares in the last quarter. LPL Financial LLC bought a new stake in shares of Clarus in the 1st quarter valued at $314,000. Finally, Manatuck Hill Partners LLC bought a new stake in shares of Clarus in the 2nd quarter valued at $990,000. Hedge funds and other institutional investors own 52.12% of the company’s stock.

About Clarus

Clarus Corporation, a holding company, focuses on the outdoor and consumer industries. The company develops, manufactures, and distributes outdoor equipment and lifestyle products with focus on the climb, ski, mountain, and sport categories. It operates in two segments, Black Diamond and Sierra. The Black Diamond segment offers high performance apparel, such as jackets, shells, pants, and bibs; rock-climbing equipment comprising carabiners, protection devices, harnesses, belay devices, helmets, and ice-climbing gears; technical backpacks and high-end day packs; tents; trekking poles; headlamps and lanterns; and gloves and mittens.

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