Clarus (NASDAQ:CLAR) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research lowered shares of Clarus (NASDAQ:CLARGet Rating) from a strong-buy rating to a sell rating in a research report sent to investors on Tuesday morning, 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. “

A number of other brokerages also recently issued reports on CLAR. StockNews.com started coverage on shares of Clarus in a research report on Thursday, March 31st. They issued a sell rating on the stock. Raymond James dropped their price target on shares of Clarus from $34.00 to $28.00 and set an outperform rating on the stock in a research report on Tuesday, March 8th. Finally, DA Davidson boosted their price target on shares of Clarus from $38.50 to $42.00 and gave the stock a buy rating in a research report on Tuesday, March 8th. Two research analysts have rated the stock with a sell rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Clarus currently has a consensus rating of Buy and an average target price of $31.86.

CLAR opened at $19.50 on Tuesday. Clarus has a fifty-two week low of $19.27 and a fifty-two week high of $32.36. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.11 and a quick ratio of 1.34. The firm has a market capitalization of $725.38 million, a price-to-earnings ratio of 27.08 and a beta of 0.90. The company’s 50 day moving average price is $22.36 and its two-hundred day moving average price is $24.41.

Clarus (NASDAQ:CLARGet Rating) last posted its earnings results on Monday, March 7th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.08. Clarus had a net margin of 6.94% and a return on equity of 16.43%. The firm had revenue of $118.18 million for the quarter, compared to analyst estimates of $106.52 million. During the same period in the previous year, the firm posted $0.31 EPS. As a group, equities research analysts predict that Clarus will post 1.56 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 20th. Investors of record on Monday, May 9th will be given a dividend of $0.025 per share. The ex-dividend date of this dividend is Friday, May 6th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.51%. Clarus’s payout ratio is presently 13.89%.

In related news, Director Nicolas Sokolow sold 10,000 shares of the business’s stock in a transaction on Thursday, March 17th. The shares were sold at an average price of $24.21, for a total transaction of $242,100.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 26.30% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co NY lifted its position in shares of Clarus by 5.1% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 7,564 shares of the company’s stock valued at $194,000 after acquiring an additional 366 shares during the period. Citigroup Inc. increased its stake in Clarus by 17.8% during the 3rd quarter. Citigroup Inc. now owns 2,805 shares of the company’s stock valued at $72,000 after purchasing an additional 424 shares in the last quarter. Oak Family Advisors LLC increased its stake in Clarus by 6.0% during the 4th quarter. Oak Family Advisors LLC now owns 8,275 shares of the company’s stock valued at $229,000 after purchasing an additional 469 shares in the last quarter. Rhumbline Advisers increased its stake in Clarus by 2.7% during the 4th quarter. Rhumbline Advisers now owns 24,667 shares of the company’s stock valued at $684,000 after purchasing an additional 656 shares in the last quarter. Finally, Advisor Group Holdings Inc. increased its stake in Clarus by 19.5% during the 4th quarter. Advisor Group Holdings Inc. now owns 4,063 shares of the company’s stock valued at $111,000 after purchasing an additional 663 shares in the last quarter. Institutional investors own 58.20% of the company’s stock.

About Clarus (Get Rating)

Clarus Corporation 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 activity-based apparel, 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; skincare and other products; and skis, ski poles, ski skins, and snow safety products, such as avalanche airbag systems, avalanche transceivers, shovels, and probes.

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