Clarus (CLAR) Downgraded by Zacks Investment Research to “Hold”
Clarus (NASDAQ:CLAR) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
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. “
Separately, Stifel Nicolaus set a $10.00 price objective on shares of Clarus and gave the stock a “buy” rating in a report on Saturday, December 16th.
In related news, insider Aaron Kuehne acquired 5,923 shares of the stock in a transaction on Friday, November 10th. The stock was acquired at an average cost of $7.21 per share, for a total transaction of $42,704.83. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nicolas Sokolow acquired 5,076 shares of the stock in a transaction on Monday, November 13th. The stock was bought at an average price of $7.26 per share, with a total value of $36,851.76. The disclosure for this purchase can be found here. Company insiders own 33.60% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Northern Trust Corp increased its stake in shares of Clarus by 271.7% during the second quarter. Northern Trust Corp now owns 243,149 shares of the company’s stock valued at $1,617,000 after purchasing an additional 177,736 shares in the last quarter. State Street Corp increased its stake in shares of Clarus by 1,618.8% during the second quarter. State Street Corp now owns 197,712 shares of the company’s stock valued at $1,316,000 after purchasing an additional 186,209 shares in the last quarter. Wasatch Advisors Inc. increased its stake in shares of Clarus by 6.2% during the second quarter. Wasatch Advisors Inc. now owns 127,400 shares of the company’s stock valued at $847,000 after purchasing an additional 7,400 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Clarus by 189.3% during the second quarter. Bank of New York Mellon Corp now owns 81,214 shares of the company’s stock valued at $540,000 after purchasing an additional 53,137 shares in the last quarter. Finally, Citigroup Inc. increased its stake in shares of Clarus by 7,684.5% during the second quarter. Citigroup Inc. now owns 65,312 shares of the company’s stock valued at $434,000 after purchasing an additional 64,473 shares in the last quarter. Institutional investors and hedge funds own 50.47% of the company’s stock.
WARNING: “Clarus (CLAR) Downgraded by Zacks Investment Research to “Hold”” was reported by American Banking News and is owned by of American Banking News. If you are reading this piece of content on another site, it was copied illegally and republished in violation of US & international trademark & copyright law. The correct version of this piece of content can be viewed at https://www.americanbankingnews.com/2018/01/09/clarus-clar-downgraded-by-zacks-investment-research-to-hold.html.
Clarus Company Profile
Clarus Corporation, formerly Black Diamond, Inc, through its ownership of Black Diamond Equipment, Ltd., is engaged in designing, manufacturing and marketing of active outdoor performance equipment and apparel for climbing, mountaineering, backpacking, skiing and a range of other year-round outdoor recreation activities.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Clarus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Clarus and related companies with MarketBeat.com's FREE daily email newsletter.