Clarus (NASDAQ:CLAR) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen lowered shares of Clarus (NASDAQ:CLAR) from a buy rating to a hold rating in a research report released on Saturday,Wall Street Zen reports.

CLAR has been the topic of a number of other research reports. Roth Capital raised their price target on Clarus from $2.90 to $3.75 and gave the stock a “neutral” rating in a report on Monday, August 10th. Zacks Research downgraded Clarus from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Clarus in a research report on Monday, August 31st. Finally, B. Riley Financial lifted their target price on Clarus from $4.00 to $4.50 and gave the company a “buy” rating in a research note on Monday, August 10th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $4.06.

Clarus Stock Performance

Shares of CLAR opened at $3.58 on Friday. The firm has a market cap of $137.62 million, a PE ratio of -4.37 and a beta of 1.08. The company’s 50 day simple moving average is $3.55 and its 200-day simple moving average is $3.13. Clarus has a 12-month low of $2.53 and a 12-month high of $3.97.

Clarus (NASDAQ:CLAR) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.25. The firm had revenue of $56.16 million during the quarter, compared to the consensus estimate of $51.54 million. Clarus had a negative net margin of 12.44% and a positive return on equity of 4.35%. As a group, equities research analysts forecast that Clarus will post 0.26 EPS for the current fiscal year.

Clarus Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Monday, August 17th were paid a $0.025 dividend. The ex-dividend date was Monday, August 17th. This represents a $0.10 annualized dividend and a dividend yield of 2.8%. Clarus’s dividend payout ratio (DPR) is -12.20%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Two Sigma Securities LLC acquired a new stake in shares of Clarus during the 2nd quarter valued at approximately $33,000. Ieq Capital LLC acquired a new stake in shares of Clarus in the 2nd quarter worth approximately $69,000. Empowered Funds LLC purchased a new position in Clarus in the 2nd quarter valued at approximately $86,000. Marquette Asset Management LLC purchased a new position in Clarus in the 2nd quarter valued at approximately $92,000. Finally, Bank of America Corp DE raised its holdings in Clarus by 21.1% during the first quarter. Bank of America Corp DE now owns 34,602 shares of the company’s stock worth $94,000 after purchasing an additional 6,032 shares during the last quarter. 90.30% of the stock is currently owned by institutional investors and hedge funds.

About Clarus

Clarus Corporation (NASDAQ: CLAR) is a global company that designs, develops, manufactures and distributes outdoor equipment and related products. Its portfolio serves consumers and professionals in climbing, skiing, mountaineering, camping, cycling, trail sports, overlanding and other outdoor activities.

The company’s principal brands include Black Diamond Equipment, which offers climbing, mountain sports, ski and outdoor products; Rhino-Rack, which develops vehicle-based carrying and storage systems; and MAXTRAX, which produces vehicle recovery boards and related off-road equipment.