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

Zacks Research downgraded shares of Clarus (NASDAQ:CLAR) from a strong-buy rating to a hold rating in a report issued on Wednesday morning,Zacks.com reports.

Several other equities research analysts have also recently weighed in on the stock. Lake Street Capital reduced their target price on shares of Clarus from $3.50 to $3.00 and set a “hold” rating for the company in a research note on Friday, March 6th. Wall Street Zen raised shares of Clarus from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Stifel Nicolaus set a $5.00 price objective on shares of Clarus in a report on Thursday, April 16th. Finally, Roth Mkm set a $2.90 price objective on shares of Clarus in a report on Wednesday, May 13th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Clarus has an average rating of “Hold” and a consensus target price of $3.63.

Clarus Stock Performance

NASDAQ CLAR opened at $3.11 on Wednesday. The firm has a 50-day simple moving average of $2.78 and a 200 day simple moving average of $3.19. Clarus has a twelve month low of $2.53 and a twelve month high of $4.03. The stock has a market cap of $119.55 million, a PE ratio of -2.68 and a beta of 1.02.

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

Clarus Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Monday, May 18th were given a dividend of $0.025 per share. The ex-dividend date was Monday, May 18th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 3.2%. Clarus’s dividend payout ratio (DPR) is -8.62%.

Institutional Investors Weigh In On Clarus

Hedge funds have recently made changes to their positions in the company. Potomac Capital Management Inc. acquired a new stake in shares of Clarus during the fourth quarter worth approximately $3,244,000. Parthenon LLC increased its holdings in shares of Clarus by 39.6% during the fourth quarter. Parthenon LLC now owns 1,005,364 shares of the company’s stock worth $3,368,000 after buying an additional 285,124 shares in the last quarter. LPL Financial LLC acquired a new stake in shares of Clarus during the fourth quarter worth approximately $480,000. ARS Investment Partners LLC acquired a new stake in shares of Clarus during the first quarter worth approximately $219,000. Finally, Two Sigma Investments LP acquired a new stake in shares of Clarus during the third quarter worth approximately $221,000. 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.