Clarus (NASDAQ:CLAR) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Clarus (NASDAQ:CLAR) from a hold rating to a buy rating in a report published on Tuesday, Zacks.com reports. The firm currently has $28.00 price objective on the stock.

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. “

A number of other research analysts have also weighed in on CLAR. DA Davidson raised their price objective on Clarus from $36.00 to $40.00 and gave the company a buy rating in a research report on Tuesday, October 19th. Bank of America initiated coverage on Clarus in a research report on Tuesday, December 21st. They set a buy rating and a $35.00 price objective for the company. Raymond James lifted their price target on Clarus from $33.00 to $34.00 and gave the stock an outperform rating in a research report on Friday, December 3rd. Finally, BNP Paribas upgraded Clarus from a neutral rating to an outperform rating and set a $33.00 price target for the company in a research report on Wednesday, December 15th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of Buy and a consensus price target of $32.71.

Shares of CLAR stock opened at $23.70 on Tuesday. Clarus has a 52-week low of $15.31 and a 52-week high of $32.36. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.36 and a current ratio of 3.12. The firm has a market capitalization of $876.62 million, a PE ratio of 40.86 and a beta of 0.85. The stock has a fifty day simple moving average of $27.09 and a two-hundred day simple moving average of $27.36.

Clarus (NASDAQ:CLAR) last issued its quarterly earnings data on Monday, November 8th. The company reported $0.42 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.02). The firm had revenue of $108.97 million for the quarter, compared to analysts’ expectations of $108.13 million. Clarus had a net margin of 5.73% and a return on equity of 17.30%. On average, sell-side analysts forecast that Clarus will post 1.14 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 19th. Shareholders of record on Monday, November 8th were paid a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend was Friday, November 5th. Clarus’s payout ratio is currently 17.24%.

In other Clarus news, Director Donald House sold 10,000 shares of the firm’s stock in a transaction dated Thursday, December 16th. The shares were sold at an average price of $27.65, for a total value of $276,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 26.30% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. O Shaughnessy Asset Management LLC lifted its stake in Clarus by 2,905.1% in the third quarter. O Shaughnessy Asset Management LLC now owns 1,172 shares of the company’s stock worth $30,000 after purchasing an additional 1,133 shares during the last quarter. Castleview Partners LLC bought a new stake in shares of Clarus during the second quarter valued at approximately $53,000. Citigroup Inc. raised its stake in shares of Clarus by 21.7% during the second quarter. Citigroup Inc. now owns 2,381 shares of the company’s stock valued at $61,000 after acquiring an additional 424 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Clarus by 24.2% during the second quarter. Legal & General Group Plc now owns 2,560 shares of the company’s stock valued at $66,000 after acquiring an additional 499 shares in the last quarter. Finally, Advisor Group Holdings Inc. raised its stake in shares of Clarus by 266.8% during the third quarter. Advisor Group Holdings Inc. now owns 3,400 shares of the company’s stock valued at $87,000 after acquiring an additional 2,473 shares in the last quarter. 58.46% of the stock is owned by institutional investors and hedge funds.

Clarus Company Profile

Clarus Corp. engages in development, manufacture, and distribution of outdoor equipment and lifestyle products focused on the climb, ski, mountain, and sport categories. It operates through the Black Diamond and Sierra segment. The Black Diamond segment designs, manufactures, and markets outdoor engineered equipment and apparel for climbing, mountaineering, backpacking, skiing, and a range of other year-round outdoor recreation activities.

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