Clarus (NASDAQ:CLAR) Stock Rating Lowered by Zacks Investment Research

Clarus (NASDAQ:CLAR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.

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 firms have also issued reports on CLAR. DA Davidson raised their price target on shares of Clarus from $22.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, May 11th. Roth Capital lifted their target price on shares of Clarus from $22.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, May 11th. Finally, Lake Street Capital lifted their target price on shares of Clarus from $18.00 to $22.00 in a report on Tuesday, March 9th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Clarus presently has a consensus rating of “Buy” and a consensus price target of $25.25.

CLAR opened at $25.15 on Wednesday. Clarus has a 12-month low of $10.18 and a 12-month high of $26.07. The company has a quick ratio of 1.88, a current ratio of 3.79 and a debt-to-equity ratio of 0.11. The stock has a market cap of $787.55 million, a price-to-earnings ratio of 73.97 and a beta of 0.85. The stock’s 50 day simple moving average is $20.48.

Clarus (NASDAQ:CLAR) last posted its quarterly earnings results on Sunday, May 9th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.09. Clarus had a net margin of 4.55% and a return on equity of 11.59%. As a group, equities research analysts anticipate that Clarus will post 0.89 EPS for the current fiscal year.

In related news, Chairman Warren B. Kanders sold 25,000 shares of the business’s stock in a transaction on Thursday, March 18th. The shares were sold at an average price of $17.62, for a total value of $440,500.00. Following the completion of the sale, the chairman now owns 3,730,131 shares of the company’s stock, valued at approximately $65,724,908.22. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Warren B. Kanders sold 83,322 shares of the business’s stock in a transaction on Monday, March 15th. The stock was sold at an average price of $17.96, for a total transaction of $1,496,463.12. Following the completion of the sale, the insider now directly owns 3,803,343 shares of the company’s stock, valued at approximately $68,308,040.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 168,322 shares of company stock valued at $2,943,763. Insiders own 28.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of CLAR. Steward Partners Investment Advisory LLC increased its holdings in Clarus by 33.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,703 shares of the company’s stock worth $72,000 after acquiring an additional 1,172 shares in the last quarter. Citigroup Inc. boosted its stake in Clarus by 413.5% during the 4th quarter. Citigroup Inc. now owns 5,762 shares of the company’s stock worth $89,000 after purchasing an additional 4,640 shares during the last quarter. UBS Group AG boosted its stake in Clarus by 48.4% during the 1st quarter. UBS Group AG now owns 9,033 shares of the company’s stock worth $154,000 after purchasing an additional 2,945 shares during the last quarter. BCJ Capital Management LLC acquired a new stake in Clarus during the 4th quarter worth $168,000. Finally, BNP Paribas Arbitrage SA boosted its stake in Clarus by 89.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 10,214 shares of the company’s stock worth $174,000 after purchasing an additional 4,819 shares during the last quarter. 63.84% of the stock is owned by institutional investors.

About Clarus

Clarus Corporation focuses on the outdoor and consumer industries in the United States, Canada, Europe, the Middle East, Asia, Australia, New Zealand, Africa, and South America. The company develops, manufactures, and distributes outdoor equipment and lifestyle products focusing on the climb, ski, mountain, sport, and skincare markets.

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