Clarus (NASDAQ:CLAR) Upgraded by StockNews.com to Sell

StockNews.com upgraded shares of Clarus (NASDAQ:CLAR – Get Rating) to a sell rating in a research note issued to investors on Monday morning.

Several other research firms have also recently commented on CLAR. DA Davidson cut shares of Clarus from a buy rating to a neutral rating and reduced their target price for the stock from $31.00 to $9.00 in a research note on Tuesday, November 8th. Roth Capital cut their price target on shares of Clarus from $28.00 to $16.00 in a report on Monday, November 7th. Finally, Lake Street Capital cut their price target on shares of Clarus from $22.00 to $20.00 and set a buy rating for the company in a report on Tuesday, February 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $22.00.

Clarus Stock Down 6.5 %

CLAR stock opened at $9.22 on Monday. Clarus has a one year low of $6.86 and a one year high of $29.32. The stock has a market capitalization of $341.79 million, a PE ratio of -4.83, a price-to-earnings-growth ratio of 1.67 and a beta of 0.95. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.42 and a current ratio of 3.69. The company has a fifty day moving average of $9.35 and a 200-day moving average of $11.19.

Clarus Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 17th. Shareholders of record on Tuesday, March 7th will be issued a dividend of $0.025 per share. The ex-dividend date of this dividend is Monday, March 6th. This represents a $0.10 annualized dividend and a yield of 1.08%. Clarus’s dividend payout ratio (DPR) is currently -5.24%.

Hedge Funds Weigh In On Clarus

Several hedge funds have recently added to or reduced their stakes in CLAR. Ensign Peak Advisors Inc purchased a new position in Clarus during the 3rd quarter valued at about $32,000. Lazard Asset Management LLC boosted its stake in shares of Clarus by 784.6% during the 2nd quarter. Lazard Asset Management LLC now owns 4,308 shares of the company’s stock worth $81,000 after purchasing an additional 3,821 shares during the last quarter. Alpine Global Management LLC acquired a new stake in shares of Clarus during the 4th quarter worth about $90,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Clarus by 112.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,296 shares of the company’s stock worth $98,000 after purchasing an additional 3,855 shares during the last quarter. Finally, Advisor Group Holdings Inc. boosted its stake in shares of Clarus by 21.1% during the 1st quarter. Advisor Group Holdings Inc. now owns 4,920 shares of the company’s stock worth $112,000 after purchasing an additional 857 shares during the last quarter. 90.53% of the stock is currently owned by hedge funds and other institutional investors.

Clarus Company Profile

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Clarus Corp engages in development, manufacture, and distribution of outdoor equipment and lifestyle products focused on the climb, ski, mountain, and sport categories. It operates through the following segments: Outdoor, Precision Sport, and Adventure. The Outdoor segment manufactures outdoor engineered equipment and apparel for climbing, mountaineering, trail running, backpacking, skiing, and a wide range of other year-round outdoor recreation activities.