Brokerages Expect Clarus Co. (NASDAQ:CLAR) Will Post Quarterly Sales of $68.70 Million

Brokerages expect Clarus Co. (NASDAQ:CLAR) to report $68.70 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Clarus’ earnings. The highest sales estimate is $69.00 million and the lowest is $68.00 million. Clarus posted sales of $61.02 million in the same quarter last year, which would indicate a positive year over year growth rate of 12.6%. The firm is scheduled to issue its next quarterly earnings report on Monday, March 8th.

According to Zacks, analysts expect that Clarus will report full-year sales of $216.73 million for the current year, with estimates ranging from $216.00 million to $217.00 million. For the next fiscal year, analysts anticipate that the company will report sales of $261.63 million, with estimates ranging from $255.00 million to $267.40 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Clarus.

Clarus (NASDAQ:CLAR) last announced its earnings results on Monday, November 9th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.01). Clarus had a return on equity of 6.81% and a net margin of 5.20%. The firm had revenue of $64.49 million for the quarter, compared to analyst estimates of $63.75 million.

CLAR has been the topic of a number of analyst reports. Lake Street Capital raised their target price on shares of Clarus from $15.00 to $17.00 in a research report on Friday, September 18th. BidaskClub upgraded shares of Clarus from a “hold” rating to a “buy” rating in a research report on Thursday, December 17th. Finally, Zacks Investment Research lowered shares of Clarus from a “hold” rating to a “sell” rating in a report on Thursday, November 12th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $14.88.

In other Clarus news, Director Donald House sold 7,612 shares of Clarus stock in a transaction on Monday, November 30th. The shares were sold at an average price of $14.40, for a total value of $109,612.80. Following the transaction, the director now owns 160,000 shares in the company, valued at approximately $2,304,000. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 28.50% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of CLAR. Wasatch Advisors Inc. purchased a new position in shares of Clarus in the 3rd quarter valued at $4,881,000. Jupiter Asset Management Ltd. purchased a new position in shares of Clarus in the 3rd quarter valued at $3,626,000. BlackRock Inc. raised its stake in shares of Clarus by 11.3% in the 3rd quarter. BlackRock Inc. now owns 1,394,618 shares of the company’s stock valued at $19,692,000 after acquiring an additional 141,273 shares during the period. Intrinsic Edge Capital Management LLC purchased a new position in shares of Clarus in the 2nd quarter valued at $847,000. Finally, First Trust Advisors LP purchased a new position in shares of Clarus in the 3rd quarter valued at $822,000. 63.81% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ CLAR traded down $0.58 during mid-day trading on Wednesday, reaching $16.14. 76,456 shares of the stock were exchanged, compared to its average volume of 127,072. Clarus has a 1-year low of $7.86 and a 1-year high of $17.75. The business’s fifty day simple moving average is $15.23 and its 200 day simple moving average is $13.91. The stock has a market capitalization of $501.36 million, a PE ratio of 46.35 and a beta of 0.85. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.92 and a current ratio of 3.85.

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.

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