Clarus (NASDAQ:CLAR) Downgraded to “Hold” Rating by Zacks Research

Clarus (NASDAQ:CLAR) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

A number of other research firms also recently commented on CLAR. Lake Street Capital dropped their price objective on Clarus from $3.50 to $3.00 and set a “hold” rating for the company in a report on Friday, March 6th. Stifel Nicolaus set a $5.00 price objective on shares of Clarus in a research note on Thursday, April 16th. Wall Street Zen raised Clarus from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Finally, Roth Mkm set a $2.90 price objective on shares of Clarus in a research note on Wednesday, May 13th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Clarus presently has a consensus rating of “Hold” and a consensus target price of $3.63.

Clarus Stock Performance

Shares of CLAR opened at $3.11 on Wednesday. The company’s 50 day simple moving average is $2.78 and its 200 day simple moving average is $3.19. The company has a market capitalization of $119.55 million, a price-to-earnings ratio of -2.68 and a beta of 1.02. Clarus has a 1 year low of $2.53 and a 1 year high of $4.03.

Clarus (NASDAQ:CLAR) last issued its quarterly earnings results on Thursday, March 5th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. Clarus had a negative return on equity of 0.11% and a negative net margin of 17.70%.The company had revenue of $65.41 million for the quarter, compared to analyst estimates of $68.67 million.

Institutional Trading of Clarus

Several institutional investors have recently modified their holdings of the company. Bank of America Corp DE lifted its holdings in Clarus by 21.1% in the 1st quarter. Bank of America Corp DE now owns 34,602 shares of the company’s stock valued at $94,000 after acquiring an additional 6,032 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Clarus in the first quarter worth $149,000. Gamco Investors INC. ET AL grew its stake in Clarus by 11.1% during the 1st quarter. Gamco Investors INC. ET AL now owns 350,000 shares of the company’s stock valued at $952,000 after acquiring an additional 35,000 shares in the last quarter. ARS Investment Partners LLC purchased a new position in Clarus during the first quarter valued at approximately $219,000. Finally, Virtu Financial LLC acquired a new stake in shares of Clarus during the 4th quarter valued at $62,000. Institutional investors and hedge funds own 90.30% of the company’s stock.

About Clarus

Clarus Corporation (NASDAQ: CLAR) is a global designer, manufacturer and marketer of outdoor recreation equipment. The company’s portfolio of brands serves enthusiasts across climbing, skiing, trail running, paddling and snow safety, combining purpose-driven innovation with in-house manufacturing capabilities. Clarus focuses on high-performance gear developed to meet the demands of professional athletes and recreational users alike.

The company’s flagship brand, Black Diamond Equipment, offers climbing protection, apparel, ski bindings and accessories engineered for backcountry and alpine environments.