Clarus (NASDAQ:CLAR) Stock Price Target Raised at B. Riley Financial

Clarus (NASDAQ:CLAR) had its price objective increased by analysts at B. Riley Financial from $4.50 to $6.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. B. Riley Financial‘s target price would suggest a potential upside of 15.72% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Lake Street Capital lifted their price target on shares of Clarus from $3.00 to $4.00 and gave the stock a “hold” rating in a report on Friday. Roth Capital lifted their target price 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. Weiss Ratings reissued a “sell (d-)” rating on shares of Clarus in a research note on Monday, August 31st. Finally, Wall Street Zen raised Clarus from a “hold” rating to a “buy” rating in a research note on Sunday, September 27th. Two equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $4.69.

Clarus Stock Up 1.1%

Shares of NASDAQ CLAR traded up $0.06 during midday trading on Tuesday, hitting $5.18. 225,380 shares of the company’s stock were exchanged, compared to its average volume of 215,835. Clarus has a 12 month low of $2.53 and a 12 month high of $5.32. The firm has a market capitalization of $199.31 million, a PE ratio of -7.51 and a beta of 1.03. The company’s 50 day moving average price is $3.76 and its 200 day moving average price is $3.30.

Clarus (NASDAQ:CLAR) last issued its earnings results on Thursday, November 5th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.10. Clarus had a positive return on equity of 4.35% and a negative net margin of 12.44%. The firm had revenue of $71.22 million for the quarter, compared to the consensus estimate of $66.84 million. On average, equities research analysts anticipate that Clarus will post 0.25 EPS for the current year.

Institutional Investors Weigh In On Clarus

Several institutional investors have recently bought and sold shares of CLAR. BlackRock Inc. acquired a new stake in shares of Clarus during the second quarter worth $1,454,000. Gamco Investors INC. ET AL lifted its position in shares of Clarus by 11.1% during the 1st quarter. Gamco Investors INC. ET AL now owns 350,000 shares of the company’s stock valued at $952,000 after buying an additional 35,000 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of Clarus in the second quarter valued at approximately $652,000. Bank of New York Mellon Corp acquired a new stake in shares of Clarus in the second quarter valued at approximately $557,000. Finally, Squarepoint Ops LLC grew its stake in shares of Clarus by 88.8% in the 2nd quarter. Squarepoint Ops LLC now owns 127,426 shares of the company’s stock valued at $401,000 after buying an additional 59,922 shares during the period. 90.30% of the stock is currently owned by institutional investors and hedge funds.

About Clarus

Clarus Corporation (NASDAQ: CLAR) is an outdoor equipment and lifestyle products company headquartered in Salt Lake City, Utah. The company develops, manufactures and markets products for climbing, mountaineering, skiing, camping, overlanding and other outdoor activities. Clarus’s portfolio includes Black Diamond Equipment, which offers climbing and mountaineering gear, skis, ski equipment, apparel and accessories. The company also owns Rhino-Rack, a provider of vehicle-based storage and transportation systems, and MAXTRAX, which makes vehicle recovery boards and related off-road products.