Clarus (CLAR) Downgraded to Buy at BidaskClub

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BidaskClub cut shares of Clarus (NASDAQ:CLAR) from a strong-buy rating to a buy rating in a report published on Wednesday.

Several other analysts have also recently issued reports on the stock. Roth Capital raised shares of Clarus from a neutral rating to a buy rating and upped their price target for the company from $9.50 to $13.00 in a report on Monday, October 1st. Zacks Investment Research raised shares of Clarus from a hold rating to a strong-buy rating and set a $12.00 price target on the stock in a report on Monday, October 8th. ValuEngine raised shares of Clarus from a hold rating to a buy rating in a report on Friday, August 3rd. Lake Street Capital upped their price target on shares of Clarus to $12.00 and gave the company a buy rating in a report on Tuesday, August 7th. Finally, Stifel Nicolaus upped their price target on shares of Clarus from $10.00 to $12.00 and gave the company a buy rating in a report on Tuesday, August 7th. Seven analysts have rated the stock with a buy rating, Clarus currently has an average rating of Buy and an average price target of $11.75.

CLAR traded up $0.46 during trading on Wednesday, hitting $10.26. The company had a trading volume of 4,849 shares, compared to its average volume of 115,890. The stock has a market capitalization of $285.09 million, a PE ratio of 84.50, a P/E/G ratio of 2.06 and a beta of 1.45. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.37 and a quick ratio of 1.72. Clarus has a 1-year low of $6.35 and a 1-year high of $12.00.

Clarus (NASDAQ:CLAR) last posted its quarterly earnings results on Monday, August 6th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.13. The firm had revenue of $45.88 million for the quarter, compared to analysts’ expectations of $40.80 million. Clarus had a net margin of 2.06% and a return on equity of 7.41%. On average, equities research analysts forecast that Clarus will post 0.46 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 16th. Shareholders of record on Friday, November 2nd will be issued a dividend of $0.025 per share. The ex-dividend date of this dividend is Thursday, November 1st. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.97%. Clarus’s dividend payout ratio (DPR) is 83.33%.

Several large investors have recently modified their holdings of the business. Algert Global LLC acquired a new stake in shares of Clarus during the second quarter worth $106,000. Bank of America Corp DE raised its holdings in shares of Clarus by 62.5% during the second quarter. Bank of America Corp DE now owns 37,448 shares of the company’s stock worth $309,000 after purchasing an additional 14,401 shares during the period. Mesirow Financial Investment Management Inc. raised its holdings in shares of Clarus by 53.3% during the second quarter. Mesirow Financial Investment Management Inc. now owns 47,499 shares of the company’s stock worth $392,000 after purchasing an additional 16,524 shares during the period. GSA Capital Partners LLP raised its holdings in shares of Clarus by 183.8% during the second quarter. GSA Capital Partners LLP now owns 45,856 shares of the company’s stock worth $378,000 after purchasing an additional 29,700 shares during the period. Finally, Millennium Management LLC raised its holdings in shares of Clarus by 57.4% during the first quarter. Millennium Management LLC now owns 100,113 shares of the company’s stock worth $676,000 after purchasing an additional 36,505 shares during the period. 52.12% of the stock is currently owned by 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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