Roth Capital Downgrades Clarus (NASDAQ:CLAR) to Hold

Roth Capital lowered shares of Clarus (NASDAQ:CLAR) from a strong-buy rating to a hold rating in a research note released on Friday morning, Zacks.com reports.

Several other brokerages have also recently weighed in on CLAR. Roth Mkm cut Clarus from a buy rating to a neutral rating and decreased their target price for the company from $7.50 to $6.00 in a research note on Friday. StockNews.com raised Clarus from a sell rating to a hold rating in a research note on Friday. Finally, B. Riley raised their target price on Clarus from $8.00 to $9.00 and gave the company a buy rating in a research note on Monday, May 6th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $9.67.

Clarus Stock Performance

NASDAQ:CLAR opened at $4.97 on Friday. Clarus has a 1 year low of $4.77 and a 1 year high of $9.38. The stock has a market cap of $190.35 million, a price-to-earnings ratio of 19.12 and a beta of 0.89. The business has a fifty day moving average of $6.37 and a 200-day moving average of $6.35.

Clarus (NASDAQ:CLAR) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.06) earnings per share (EPS) for the quarter. Clarus had a negative return on equity of 0.76% and a net margin of 2.23%. The business had revenue of $56.48 million during the quarter, compared to the consensus estimate of $59.28 million. During the same period in the previous year, the company posted $0.07 EPS. On average, equities research analysts predict that Clarus will post 0.14 EPS for the current year.

Clarus Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 19th. Investors of record on Friday, August 9th will be paid a $0.025 dividend. The ex-dividend date is Friday, August 9th. This represents a $0.10 dividend on an annualized basis and a yield of 2.01%. Clarus’s dividend payout ratio is currently 38.46%.

Hedge Funds Weigh In On Clarus

A number of institutional investors have recently bought and sold shares of CLAR. Legacy Capital Group California Inc. purchased a new position in Clarus in the 2nd quarter worth about $72,000. EntryPoint Capital LLC purchased a new position in Clarus in the 1st quarter worth about $83,000. BNP Paribas Financial Markets increased its stake in Clarus by 71.5% in the 1st quarter. BNP Paribas Financial Markets now owns 14,908 shares of the company’s stock worth $101,000 after purchasing an additional 6,213 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Clarus by 30.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,530 shares of the company’s stock worth $105,000 after purchasing an additional 3,658 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in Clarus by 23.1% during the 4th quarter. SG Americas Securities LLC now owns 15,386 shares of the company’s stock worth $106,000 after acquiring an additional 2,891 shares during the period. Hedge funds and other institutional investors own 90.30% of the company’s stock.

About Clarus

Clarus Corporation designs, develops, manufactures, and distributes outdoor equipment and lifestyle products in the United States and internationally. The company operates through two segments, Outdoor and Adventure. The Outdoor segment offers apparels, such as shells, insulation, midlayers, pants, and logowear; rock-climbing footwear and equipment, including carabiners, protection devices, harnesses, belay devices, helmets, and ice-climbing gears; technical backpacks and day packs; trekking poles; headlamps and lanterns; gloves and mittens; and skis, ski poles, ski skins, avalanche airbag systems, avalanche transceivers, shovels, and probes.