Clarus (NASDAQ:CLAR) Stock Price Expected to Rise, Lake Street Capital Analyst Says

Clarus (NASDAQ:CLAR) had its target price upped by research analysts at Lake Street Capital from $3.00 to $4.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “hold” rating on the stock. Lake Street Capital‘s price objective would indicate a potential downside of 20.32% from the stock’s previous close.

CLAR has been the topic of several other reports. Wall Street Zen upgraded shares of Clarus from a “hold” rating to a “buy” rating in a research note on Sunday, September 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Clarus in a report on Monday, August 31st. B. Riley Financial boosted their price objective on shares of Clarus from $4.00 to $4.50 and gave the stock a “buy” rating in a research report on Monday, August 10th. Finally, Roth Capital upped their target price on shares of Clarus from $2.90 to $3.75 and gave the company a “neutral” rating in a report on Monday, August 10th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Clarus currently has a consensus rating of “Hold” and a consensus price target of $4.31.

Clarus Stock Performance

NASDAQ:CLAR opened at $5.02 on Friday. Clarus has a 1 year low of $2.53 and a 1 year high of $5.18. The stock has a market cap of $192.97 million, a P/E ratio of -7.28 and a beta of 1.02. The stock has a 50-day simple moving average of $3.74 and a 200-day simple moving average of $3.29.

Clarus (NASDAQ:CLAR) last issued its earnings results on Thursday, November 5th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.10. The business had revenue of $71.22 million for the quarter, compared to analyst estimates of $66.84 million. Clarus had a positive return on equity of 7.27% and a negative net margin of 10.44%. On average, equities research analysts predict that Clarus will post 0.25 EPS for the current year.

Institutional Trading of Clarus

A number of large investors have recently made changes to their positions in CLAR. Squarepoint Ops LLC lifted its stake in Clarus by 88.8% in the second 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 last quarter. Two Sigma Securities LLC acquired a new stake in shares of Clarus in the second quarter valued at approximately $33,000. Empowered Funds LLC purchased a new position in shares of Clarus during the second quarter worth approximately $86,000. Corient Private Wealth LP purchased a new position in shares of Clarus during the second quarter worth approximately $122,000. Finally, Ieq Capital LLC purchased a new position in shares of Clarus during the second quarter worth approximately $69,000. 90.30% of the stock is 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.