Clarus’ (CLAR) Buy Rating Reiterated at Roth Mkm

Clarus (NASDAQ:CLAR)‘s stock had its “buy” rating reiterated by analysts at Roth Mkm in a research report issued on Tuesday, Benzinga reports. They presently have a $9.50 price target on the stock. Roth Mkm’s price objective suggests a potential upside of 25.50% from the stock’s current price.

A number of other brokerages have also weighed in on CLAR. StockNews.com started coverage on Clarus in a report on Wednesday, August 23rd. They set a “hold” rating on the stock. B. Riley started coverage on shares of Clarus in a research note on Thursday, June 29th. They set a “buy” rating and a $12.00 price target on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $13.00 price target on shares of Clarus in a report on Monday. Lake Street Capital decreased their price objective on shares of Clarus from $20.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, August 8th. Finally, Bank of America dropped their target price on shares of Clarus from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Tuesday, August 8th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $14.69.

Clarus Stock Performance

Clarus stock traded up $0.18 during trading hours on Tuesday, reaching $7.57. 54,370 shares of the stock were exchanged, compared to its average volume of 323,067. The stock has a market cap of $283.65 million, a P/E ratio of -3.55 and a beta of 0.96. The firm’s 50 day moving average is $8.04 and its 200 day moving average is $8.58. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.32 and a current ratio of 3.89. Clarus has a 52-week low of $6.48 and a 52-week high of $14.31.

Clarus (NASDAQ:CLAR) last announced its quarterly earnings data on Monday, August 7th. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.05). Clarus had a negative net margin of 19.79% and a positive return on equity of 7.09%. The firm had revenue of $83.73 million during the quarter, compared to analyst estimates of $91.92 million. Analysts predict that Clarus will post 0.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Clarus

Hedge funds and other institutional investors have recently modified their holdings of the company. Thrivent Financial for Lutherans grew its stake in Clarus by 77.8% in the 1st quarter. Thrivent Financial for Lutherans now owns 3,218,577 shares of the company’s stock worth $30,415,000 after acquiring an additional 1,408,417 shares during the period. Millennium Management LLC grew its position in shares of Clarus by 3,616.8% in the second quarter. Millennium Management LLC now owns 624,723 shares of the company’s stock valued at $11,863,000 after purchasing an additional 607,915 shares during the period. Marshall Wace LLP grew its position in shares of Clarus by 270.1% in the fourth quarter. Marshall Wace LLP now owns 745,083 shares of the company’s stock valued at $5,841,000 after purchasing an additional 543,765 shares during the period. Putnam Investments LLC acquired a new position in Clarus in the first quarter valued at $3,777,000. Finally, Dimensional Fund Advisors LP lifted its position in Clarus by 588.2% during the second quarter. Dimensional Fund Advisors LP now owns 321,600 shares of the company’s stock worth $2,939,000 after buying an additional 274,868 shares during the period. 81.51% of the stock is currently owned by hedge funds and other institutional investors.

About Clarus

Clarus Corporation designs, develops, manufactures, and distributes outdoor equipment and lifestyle products focusing on the outdoor and consumer markets in the United States, Canada, Europe, the Middle East, Asia, Australia, New Zealand, Africa, and South America. Its Outdoor segment offers shells, insulation, midlayers, pants, and logowear; carabiners, protection devices, harnesses, belay devices, helmets, and ice-climbing gears; technical backpacks and day packs; trekking poles; headlamps and lanterns; gloves and mittens; skincare and other products; and skis, ski poles, ski skins, avalanche airbag systems, avalanche transceivers, shovels, and probes.