Clarus (NASDAQ:CLAR) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Clarus (NASDAQ:CLAR) from a buy rating to a hold rating in a report published on Sunday.

Other equities research analysts have also recently issued reports about the company. Zacks Research cut 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 note on Wednesday, June 3rd. B. Riley Financial lifted their target price on Clarus from $4.00 to $4.50 and gave the stock a “buy” rating in a report on Monday, August 10th. Finally, Roth Capital boosted their target price on Clarus from $2.90 to $3.75 and gave the company a “neutral” rating in a research report on Monday, August 10th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Clarus presently has a consensus rating of “Hold” and an average price target of $4.06.

Clarus Stock Down 0.5%

Shares of NASDAQ:CLAR opened at $3.80 on Friday. Clarus has a 52 week low of $2.53 and a 52 week high of $4.03. The stock has a market capitalization of $146.07 million, a P/E ratio of -4.63 and a beta of 1.05. The firm has a fifty day simple moving average of $3.37 and a two-hundred day simple moving average of $3.09.

Clarus (NASDAQ:CLAR) last posted its earnings results on Thursday, August 6th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.25. Clarus had a negative net margin of 12.44% and a positive return on equity of 4.35%. The firm had revenue of $56.16 million for the quarter, compared to the consensus estimate of $51.54 million. On average, analysts expect that Clarus will post 0.26 earnings per share for the current year.

Clarus Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Monday, August 17th will be issued a $0.025 dividend. The ex-dividend date is Monday, August 17th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 2.6%. Clarus’s payout ratio is presently -12.20%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Potomac Capital Management Inc. purchased a new stake in Clarus in the fourth quarter valued at about $3,244,000. BlackRock Inc. purchased a new stake in shares of Clarus during the second quarter worth about $1,454,000. GSA Capital Partners LLP acquired a new position in shares of Clarus during the second quarter valued at about $652,000. Bank of New York Mellon Corp acquired a new position in shares of Clarus during the second quarter valued at about $557,000. Finally, LPL Financial LLC acquired a new position in shares of Clarus during the fourth quarter valued at about $480,000. 90.30% of the stock is currently owned by hedge funds and other institutional investors.

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.