Clarus (NASDAQ:CLAR) Price Target Raised to $26.00 at DA Davidson

Clarus (NASDAQ:CLAR) had its price target upped by analysts at DA Davidson from $22.00 to $26.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. DA Davidson’s price objective indicates a potential upside of 22.18% from the stock’s current price.

A number of other equities analysts have also recently weighed in on CLAR. Lake Street Capital lifted their price target on Clarus from $18.00 to $22.00 in a research note on Tuesday, March 9th. Roth Capital upped their price objective on Clarus from $22.00 to $24.00 and gave the company a “buy” rating in a research note on Monday. Finally, Zacks Investment Research cut Clarus from a “buy” rating to a “hold” rating in a report on Tuesday, May 11th. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $23.25.

Clarus stock opened at $21.28 on Monday. Clarus has a one year low of $8.89 and a one year high of $21.93. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.92 and a current ratio of 3.85. The business has a fifty day moving average of $18.19 and a two-hundred day moving average of $16.70. The company has a market cap of $666.36 million, a P/E ratio of 61.11 and a beta of 0.85.

Clarus (NASDAQ:CLAR) last announced its quarterly earnings data on Sunday, May 9th. The company reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.09. Clarus had a net margin of 5.20% and a return on equity of 6.81%. Sell-side analysts predict that Clarus will post 0.46 EPS for the current year.

In related news, Chairman Warren B. Kanders sold 25,000 shares of Clarus stock in a transaction dated Thursday, March 18th. The stock was sold at an average price of $17.62, for a total value of $440,500.00. Following the sale, the chairman now owns 3,730,131 shares of the company’s stock, valued at $65,724,908.22. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Warren B. Kanders sold 35,110 shares of Clarus stock in a transaction dated Thursday, March 11th. The shares were sold at an average price of $18.05, for a total value of $633,735.50. Following the completion of the sale, the chairman now directly owns 3,803,343 shares in the company, valued at approximately $68,650,341.15. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 203,432 shares of company stock worth $3,577,499. Corporate insiders own 28.50% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Brown Advisory Inc. increased its position in Clarus by 12.2% during the first quarter. Brown Advisory Inc. now owns 3,228,461 shares of the company’s stock worth $55,045,000 after buying an additional 351,366 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Clarus during the fourth quarter worth approximately $3,011,000. Monarch Partners Asset Management LLC bought a new stake in shares of Clarus in the first quarter valued at approximately $2,235,000. RK Capital Management LLC bought a new stake in shares of Clarus in the first quarter valued at approximately $1,705,000. Finally, New York Life Investments Alternatives bought a new stake in shares of Clarus in the fourth quarter valued at approximately $1,329,000. 63.81% of the stock is currently owned by institutional investors and hedge funds.

Clarus Company Profile

Clarus Corporation focuses on the outdoor and consumer industries in the United States, Canada, Europe, the Middle East, Asia, Australia, New Zealand, Africa, and South America. The company develops, manufactures, and distributes outdoor equipment and lifestyle products focusing on the climb, ski, mountain, sport, and skincare markets.

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