Clarus (CLAR) Cut to “Hold” at Zacks Investment Research

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Zacks Investment Research downgraded shares of Clarus (NASDAQ:CLAR) from a strong-buy rating to a hold rating in a report published on Tuesday.

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 brokerages also recently commented on CLAR. BidaskClub upgraded Clarus from a hold rating to a buy rating in a research report on Friday, January 4th. Roth Capital upgraded 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 report on Monday, October 1st. ValuEngine downgraded Clarus from a buy rating to a hold rating in a research report on Thursday, December 13th. Finally, TheStreet upgraded Clarus from a c+ rating to a b rating in a research report on Friday, November 23rd. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $12.25.

Shares of CLAR traded down $0.22 during trading hours on Tuesday, hitting $10.07. 77,059 shares of the company were exchanged, compared to its average volume of 85,525. The company has a market cap of $309.85 million, a PE ratio of 83.92, a price-to-earnings-growth ratio of 1.57 and a beta of 1.37. Clarus has a 52 week low of $6.35 and a 52 week high of $12.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.14 and a current ratio of 4.94.

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

Several hedge funds have recently made changes to their positions in the business. GSA Capital Partners LLP raised its holdings in shares of 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. BlackRock Inc. raised its holdings in shares of Clarus by 4.6% in the 2nd quarter. BlackRock Inc. now owns 1,103,030 shares of the company’s stock worth $9,099,000 after buying an additional 48,658 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Clarus by 9.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 552,180 shares of the company’s stock worth $4,555,000 after buying an additional 48,378 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Clarus by 9.1% in the 2nd quarter. Renaissance Technologies LLC now owns 956,542 shares of the company’s stock worth $7,891,000 after buying an additional 79,742 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of 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. Institutional investors own 51.80% of the company’s stock.

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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