Clarus (CLAR) Upgraded by Zacks Investment Research to Buy

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Zacks Investment Research upgraded shares of Clarus (NASDAQ:CLAR) from a hold rating to a buy rating in a research report sent to investors on Friday. Zacks Investment Research currently has $13.00 target price 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. “

Other equities analysts have also issued research reports about the stock. BidaskClub raised shares of Clarus from a buy rating to a strong-buy rating in a research note on Thursday. Roth Capital raised shares of Clarus from a neutral rating to a buy rating and raised their price objective for the stock from $9.50 to $13.00 in a research note on Monday, October 1st. Lake Street Capital raised their price objective on shares of Clarus to $12.00 and gave the stock a buy rating in a research note on Tuesday, August 7th. Stifel Nicolaus raised their price objective on shares of Clarus from $10.00 to $12.00 and gave the stock a buy rating in a research note on Tuesday, August 7th. Finally, ValuEngine raised shares of Clarus from a hold rating to a buy rating in a research note on Friday, August 3rd. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $12.50.

NASDAQ:CLAR traded down $0.21 during trading hours on Friday, reaching $11.49. 247,926 shares of the company’s stock were exchanged, compared to its average volume of 118,463. The stock has a market capitalization of $342.38 million, a price-to-earnings ratio of 95.75, a PEG ratio of 2.49 and a beta of 1.33. Clarus has a 12 month low of $6.35 and a 12 month high of $12.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.72 and a current ratio of 4.94.

Clarus (NASDAQ:CLAR) last issued its earnings results on Monday, November 5th. The company reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.07. The firm had revenue of $55.69 million during the quarter, compared to analysts’ expectations of $53.27 million. Clarus had a net margin of 4.71% and a return on equity of 9.59%. On average, sell-side analysts expect that Clarus will post 0.53 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 16th. Investors of record on Friday, November 2nd will be paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Thursday, November 1st. Clarus’s dividend payout ratio is 83.33%.

A number of institutional investors have recently bought and sold shares of the stock. Algert Global LLC purchased a new stake in Clarus in the 2nd quarter worth approximately $106,000. Engineers Gate Manager LP purchased a new stake in Clarus in the 3rd quarter worth approximately $187,000. Bank of America Corp DE lifted its position in Clarus by 62.5% in the 2nd quarter. Bank of America Corp DE now owns 37,448 shares of the company’s stock worth $309,000 after buying an additional 14,401 shares in the last quarter. GSA Capital Partners LLP lifted its position in Clarus by 183.8% in the 2nd quarter. GSA Capital Partners LLP now owns 45,856 shares of the company’s stock worth $378,000 after buying an additional 29,700 shares in the last quarter. Finally, LPL Financial LLC purchased a new stake in Clarus in the 1st quarter worth approximately $314,000. 51.87% of the stock is owned by hedge funds and other institutional investors.

Clarus Company Profile

Clarus Corporation, a holding company, focuses on the outdoor and consumer industries. The company develops, manufactures, and distributes outdoor equipment and lifestyle products with focus on the climb, ski, mountain, and sport categories. It operates in two segments, Black Diamond and Sierra. The Black Diamond segment offers high performance apparel, such as jackets, shells, pants, and bibs; rock-climbing equipment comprising carabiners, protection devices, harnesses, belay devices, helmets, and ice-climbing gears; technical backpacks and high-end day packs; tents; trekking poles; headlamps and lanterns; and gloves and mittens.

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