Clarus (NASDAQ:CLAR) Price Target Cut to $6.00 by Analysts at Stifel Nicolaus

Clarus (NASDAQ:CLARGet Free Report) had its price objective lowered by equities research analysts at Stifel Nicolaus from $7.00 to $6.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ target price suggests a potential upside of 93.55% from the stock’s previous close.

Several other equities research analysts have also issued reports on CLAR. Wall Street Zen raised Clarus from a “sell” rating to a “hold” rating in a research note on Saturday, December 6th. Weiss Ratings reiterated a “sell (d)” rating on shares of Clarus in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $4.50.

Check Out Our Latest Stock Analysis on CLAR

Clarus Stock Performance

NASDAQ:CLAR opened at $3.10 on Friday. The firm has a market capitalization of $119.04 million, a price-to-earnings ratio of -1.47 and a beta of 1.11. The stock has a fifty day moving average of $3.47 and a 200 day moving average of $3.49. Clarus has a 52-week low of $3.02 and a 52-week high of $4.45.

Clarus (NASDAQ:CLARGet Free Report) last issued its quarterly earnings results on Thursday, March 5th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 4.30% and a negative net margin of 31.52%. Equities analysts forecast that Clarus will post -0.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Clarus

Institutional investors and hedge funds have recently modified their holdings of the stock. Parthenon LLC raised its stake in Clarus by 64.4% in the third quarter. Parthenon LLC now owns 720,240 shares of the company’s stock worth $2,521,000 after buying an additional 282,103 shares in the last quarter. First Eagle Investment Management LLC lifted its position in Clarus by 3.3% during the 2nd quarter. First Eagle Investment Management LLC now owns 957,475 shares of the company’s stock valued at $3,322,000 after acquiring an additional 30,500 shares during the period. Los Angeles Capital Management LLC bought a new stake in Clarus during the second quarter worth about $90,000. Builder Investment Group Inc. ADV boosted its position in shares of Clarus by 8.6% in the 3rd quarter. Builder Investment Group Inc. ADV now owns 139,814 shares of the company’s stock worth $489,000 after purchasing an additional 11,024 shares in the last quarter. Finally, Lepercq De Neuflize Asset Management LLC boosted its holdings in Clarus by 45.0% in the second quarter. Lepercq De Neuflize Asset Management LLC now owns 32,200 shares of the company’s stock worth $112,000 after acquiring an additional 10,000 shares in the last quarter. 90.30% of the stock is owned by hedge funds and other institutional investors.

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About Clarus

(Get Free Report)

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.

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