Clarus (NASDAQ:CLAR) Shares Climb 1.8% – Here’s Why

Clarus Corporation (NASDAQ:CLAR) shot up 1.8% on Monday. The company traded as high as $3.94 and last traded at $3.90. 175,774 shares were traded during mid-day trading, an increase of 44% from the average daily volume of 122,125 shares. The stock had previously closed at $3.83.

Analyst Ratings Changes

CLAR has been the topic of several research analyst reports. B. Riley Financial raised their price objective on Clarus from $4.00 to $4.50 and gave the company a “buy” rating in a report on Monday, August 10th. Roth Capital upped their target price on Clarus from $2.90 to $3.75 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Wall Street Zen upgraded Clarus from a “hold” rating to a “buy” rating in a research report on Sunday, September 27th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Clarus in a research report on Monday, August 31st. Two 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. Based on data from MarketBeat, Clarus has a consensus rating of “Hold” and a consensus price target of $4.06.

Clarus Stock Up 1.8%

The firm has a market cap of $149.92 million, a price-to-earnings ratio of -4.76 and a beta of 1.10. The company’s 50-day moving average price is $3.60 and its 200-day moving average price is $3.26.

Clarus (NASDAQ:CLAR) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.18 earnings per share for the quarter, topping 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%. Analysts predict that Clarus Corporation will post 0.26 earnings per share for the current fiscal year.

Clarus Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Monday, August 17th were paid a dividend of $0.0250 per share. This represents a $0.10 annualized dividend and a yield of 2.6%. The ex-dividend date was Monday, August 17th. Clarus’s payout ratio is -12.20%.

Hedge Funds Weigh In On Clarus

Several hedge funds and other institutional investors have recently made changes to their positions in CLAR. Two Sigma Securities LLC purchased a new stake in shares of Clarus during the second quarter worth approximately $33,000. Ieq Capital LLC purchased a new position in Clarus in the 2nd quarter valued at $69,000. Empowered Funds LLC purchased a new position in Clarus in the 2nd quarter valued at $86,000. Marquette Asset Management LLC acquired a new stake in Clarus during the 2nd quarter worth $92,000. Finally, Bank of America Corp DE boosted its stake in Clarus by 21.1% during the 1st 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. Hedge funds and other institutional investors own 90.30% of the company’s stock.

About Clarus

Clarus Corporation (NASDAQ: CLAR) is an outdoor equipment and lifestyle products company headquartered in Salt Lake City, Utah. The company develops, manufactures and markets products for climbing, mountaineering, skiing, camping, overlanding and other outdoor activities.

Clarus’s portfolio includes Black Diamond Equipment, which offers climbing and mountaineering gear, skis, ski equipment, apparel and accessories. The company also owns Rhino-Rack, a provider of vehicle-based storage and transportation systems, and MAXTRAX, which makes vehicle recovery boards and related off-road products.