Clarus (NASDAQ:CLAR) Stock Rating Lowered by Zacks Investment Research

Clarus (NASDAQ:CLAR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Monday, 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. “

Other equities research analysts also recently issued reports about the stock. Lake Street Capital increased their price target on shares of Clarus from $18.00 to $22.00 in a report on Tuesday, March 9th. Roth Capital upped their target price on Clarus from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, May 11th. Finally, DA Davidson lifted their price target on Clarus from $22.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, May 11th.

Shares of CLAR stock opened at $24.87 on Monday. The company has a market cap of $778.78 million, a PE ratio of 73.15 and a beta of 0.85. The firm’s fifty day simple moving average is $21.53. Clarus has a 1 year low of $10.18 and a 1 year high of $26.07. The company has a debt-to-equity ratio of 0.11, a current ratio of 3.79 and a quick ratio of 1.88.

Clarus (NASDAQ:CLAR) last announced its quarterly earnings results on Sunday, May 9th. The company reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.09. Clarus had a return on equity of 11.59% and a net margin of 4.55%. As a group, analysts forecast that Clarus will post 0.89 EPS for the current fiscal year.

In other news, Director Nicolas Sokolow sold 10,207 shares of the business’s stock in a transaction dated Wednesday, June 16th. The stock was sold at an average price of $23.81, for a total value of $243,028.67. Following the completion of the sale, the director now owns 97,743 shares of the company’s stock, valued at approximately $2,327,260.83. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 20,108 shares of company stock worth $482,514. Company insiders own 28.50% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC raised its position in Clarus by 33.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,703 shares of the company’s stock valued at $72,000 after purchasing an additional 1,172 shares during the last quarter. Citigroup Inc. increased its stake in shares of Clarus by 413.5% during the fourth quarter. Citigroup Inc. now owns 5,762 shares of the company’s stock valued at $89,000 after buying an additional 4,640 shares during the period. UBS Group AG raised its holdings in shares of Clarus by 48.4% during the first quarter. UBS Group AG now owns 9,033 shares of the company’s stock valued at $154,000 after acquiring an additional 2,945 shares in the last quarter. BCJ Capital Management LLC purchased a new stake in Clarus in the fourth quarter worth $168,000. Finally, BNP Paribas Arbitrage SA lifted its stake in Clarus by 89.3% in the first quarter. BNP Paribas Arbitrage SA now owns 10,214 shares of the company’s stock worth $174,000 after acquiring an additional 4,819 shares during the period. Institutional investors own 63.84% of the company’s stock.

About Clarus

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.

Read More: Hold Rating

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