Clarus (NASDAQ:CLAR) Raised to Buy at Zacks Investment Research

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Zacks Investment Research upgraded shares of Clarus (NASDAQ:CLAR) from a hold rating to a buy rating in a report issued on Thursday morning, Zacks.com reports. Zacks Investment Research currently has $16.00 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. “

Separately, BidaskClub cut shares of Xilinx from a buy rating to a hold rating in a research note on Saturday, June 15th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $15.20.

Shares of CLAR stock opened at $14.42 on Thursday. The firm has a market capitalization of $431.03 million, a PE ratio of 22.18, a P/E/G ratio of 2.07 and a beta of 1.34. The company has a current ratio of 5.25, a quick ratio of 2.22 and a debt-to-equity ratio of 0.11. The company has a fifty day moving average price of $13.66. Clarus has a one year low of $7.85 and a one year high of $15.10.

Clarus (NASDAQ:CLAR) last announced its quarterly earnings results on Monday, May 6th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.05. The firm had revenue of $61.22 million during the quarter, compared to analysts’ expectations of $58.13 million. Clarus had a net margin of 4.85% and a return on equity of 11.92%. On average, research analysts expect that Clarus will post 0.69 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the business. Rhumbline Advisers lifted its stake in Clarus by 46.3% in the fourth quarter. Rhumbline Advisers now owns 29,474 shares of the company’s stock valued at $298,000 after acquiring an additional 9,324 shares during the last quarter. Roubaix Capital LLC acquired a new stake in Clarus in the first quarter valued at $3,240,000. Brown Advisory Inc. lifted its stake in Clarus by 0.7% in the fourth quarter. Brown Advisory Inc. now owns 1,628,860 shares of the company’s stock valued at $16,484,000 after acquiring an additional 11,290 shares during the last quarter. Segall Bryant & Hamill LLC lifted its stake in Clarus by 55.9% in the fourth quarter. Segall Bryant & Hamill LLC now owns 58,688 shares of the company’s stock valued at $594,000 after acquiring an additional 21,033 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of Clarus by 85.1% during the 4th quarter. Barclays PLC now owns 17,310 shares of the company’s stock worth $175,000 after buying an additional 7,957 shares during the last quarter. Hedge funds and other institutional investors own 60.30% of the company’s stock.

Clarus Company Profile

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 with focus on the climb, ski, mountain, sport, and skincare categories.

Further Reading: What is Cost of Goods Sold (COGS)?

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