Clarus (NASDAQ:CLAR) Stock Price Up 1.8% – Here’s Why

Clarus Corporation (NASDAQ:CLAR – Get Free Report)’s stock price rose 1.8% on Monday. The stock traded as high as $3.94 and last traded at $3.90. 175,774 shares were traded during mid-day trading, an increase of 44% from the average daily volume of 122,125 shares. The stock had previously closed at $3.83.

Analysts Set New Price Targets

A number of research firms recently weighed in on CLAR. B. Riley Financial boosted their price target on shares of Clarus from $4.00 to $4.50 and gave the stock a “buy” rating in a research report on Monday, August 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clarus in a report on Monday, August 31st. Roth Capital raised their target price on shares of Clarus from $2.90 to $3.75 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Finally, Wall Street Zen upgraded Clarus from a “hold” rating to a “buy” rating in a report on Sunday, September 27th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $4.06.

Read Our Latest Analysis on Clarus

Clarus Trading Up 1.8%

The company has a fifty day simple moving average of $3.60 and a 200-day simple moving average of $3.26. The company has a market capitalization of $149.92 million, a PE ratio of -4.76 and a beta of 1.10.

Clarus (NASDAQ:CLAR – Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.25. Clarus had a positive return on equity of 4.35% and a negative net margin of 12.44%. The business had revenue of $56.16 million during the quarter, compared to the consensus estimate of $51.54 million. On average, equities analysts predict that Clarus Corporation will post 0.26 EPS for the current fiscal year.

Clarus Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Monday, August 17th were issued a $0.0250 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 2.6%. Clarus’s dividend payout ratio is currently -12.20%.

Institutional Investors Weigh In On Clarus

Several hedge funds and other institutional investors have recently bought and sold shares of CLAR. Squarepoint Ops LLC raised its stake in Clarus by 88.8% during the second quarter. Squarepoint Ops LLC now owns 127,426 shares of the company’s stock worth $401,000 after purchasing an additional 59,922 shares during the period. Two Sigma Securities LLC purchased a new stake in shares of Clarus in the 2nd quarter valued at approximately $33,000. Empowered Funds LLC purchased a new stake in shares of Clarus in the 2nd quarter valued at approximately $86,000. Corient Private Wealth LP purchased a new stake in shares of Clarus in the 2nd quarter valued at approximately $122,000. Finally, Ieq Capital LLC acquired a new stake in shares of Clarus during the 2nd quarter worth approximately $69,000. 90.30% of the stock is currently owned by institutional investors and hedge funds.

About Clarus

(Get Free Report)

Clarus Corporation (NASDAQ: CLAR) is an outdoor equipment and lifestyle products company headquartered in Salt Lake City, Utah. The company develops, manufactures and markets products for climbing, mountaineering, skiing, camping, overlanding and other outdoor activities.

Clarus’s portfolio includes Black Diamond Equipment, which offers climbing and mountaineering gear, skis, ski equipment, apparel and accessories. The company also owns Rhino-Rack, a provider of vehicle-based storage and transportation systems, and MAXTRAX, which makes vehicle recovery boards and related off-road products.

Further Reading

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