Clarus (NASDAQ:CLAR – Get Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.
According to Zacks, “Clarus Corporation engages in design, manufacture and marketing of outdoor equipment and apparel for climbing, mountaineering, backpacking, skiing and other outdoor recreation activities. Its brands include Black Diamond and PIEPS. Black Diamond Equipment is a manufacturer of active outdoor equipment and clothing for the climbing, skiing and mountain sports markets. PIEPS is a designer and marketer of avalanche beacons and snow safety products. Clarus Corporation, formerly known as Black Diamond Inc., is headquartered in Salt Lake City, UT. ”
Several other research analysts have also weighed in on CLAR. DA Davidson increased their target price on Clarus from $38.50 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday. Raymond James lowered their price target on Clarus from $34.00 to $28.00 and set an “outperform” rating for the company in a report on Tuesday. BNP Paribas upgraded Clarus from a “neutral” rating to an “outperform” rating and set a $33.00 price target for the company in a report on Wednesday, December 15th. Finally, Bank of America assumed coverage on Clarus in a report on Tuesday, December 21st. They issued a “buy” rating and a $35.00 price target for the company. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $32.14.
CLAR stock traded up $0.81 on Tuesday, reaching $21.43. The company had a trading volume of 435,329 shares, compared to its average volume of 207,714. Clarus has a 1 year low of $15.43 and a 1 year high of $32.36. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.36 and a current ratio of 3.12. The company’s fifty day moving average is $23.33 and its 200 day moving average is $25.95. The company has a market cap of $792.65 million, a P/E ratio of 36.95 and a beta of 0.95.
Clarus (NASDAQ:CLAR – Get Rating) last issued its quarterly earnings results on Monday, March 7th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.14. Clarus had a return on equity of 17.30% and a net margin of 5.73%. During the same quarter last year, the firm posted $0.31 EPS. On average, sell-side analysts predict that Clarus will post 1.14 earnings per share for the current year.
In related news, Director Donald House sold 10,000 shares of Clarus stock in a transaction on Thursday, December 16th. The shares were sold at an average price of $27.65, for a total value of $276,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 26.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of CLAR. Vanguard Group Inc. increased its stake in Clarus by 21.1% in the second quarter. Vanguard Group Inc. now owns 1,229,957 shares of the company’s stock valued at $31,610,000 after acquiring an additional 214,357 shares during the period. Northern Trust Corp boosted its position in Clarus by 2.4% in the second quarter. Northern Trust Corp now owns 252,052 shares of the company’s stock valued at $6,478,000 after buying an additional 5,893 shares in the last quarter. State Street Corp boosted its position in Clarus by 6.2% in the second quarter. State Street Corp now owns 440,198 shares of the company’s stock valued at $11,313,000 after buying an additional 25,785 shares in the last quarter. Cubist Systematic Strategies LLC boosted its position in Clarus by 33.1% in the second quarter. Cubist Systematic Strategies LLC now owns 39,010 shares of the company’s stock valued at $1,003,000 after buying an additional 9,701 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD acquired a new position in Clarus in the second quarter valued at about $241,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.
About Clarus
Clarus Corp. engages in development, manufacture, and distribution of outdoor equipment and lifestyle products focused on the climb, ski, mountain, and sport categories. It operates through the Black Diamond and Sierra segment. The Black Diamond segment designs, manufactures, and markets outdoor engineered equipment and apparel for climbing, mountaineering, backpacking, skiing, and a range of other year-round outdoor recreation activities.