Clarus Corporation (NASDAQ:CLAR) Receives Average Rating of “Hold” from Brokerages

Shares of Clarus Corporation (NASDAQ:CLAR) have been given an average rating of “Hold” by the five research firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $3.6333.

A number of research firms recently commented on CLAR. Weiss Ratings reiterated a “sell (d-)” rating on shares of Clarus in a research note on Wednesday, June 3rd. Roth Mkm set a $2.90 target price on Clarus in a research report on Wednesday, May 13th. Zacks Research cut Clarus from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 27th. Wall Street Zen upgraded shares of Clarus from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Finally, Lake Street Capital cut their price target on shares of Clarus from $3.50 to $3.00 and set a “hold” rating for the company in a report on Friday, March 6th.

Clarus Trading Up 3.0%

CLAR stock opened at $3.13 on Thursday. The firm’s 50-day moving average is $2.90 and its two-hundred day moving average is $3.13. The company has a market capitalization of $120.32 million, a price-to-earnings ratio of -2.70 and a beta of 1.09. Clarus has a 52 week low of $2.53 and a 52 week high of $4.03.

Clarus Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Monday, May 18th were given a $0.025 dividend. The ex-dividend date was Monday, May 18th. This represents a $0.10 annualized dividend and a yield of 3.2%. Clarus’s payout ratio is -8.62%.

Institutional Investors Weigh In On Clarus

Institutional investors and hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. grew its holdings in shares of Clarus by 7.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 165,335 shares of the company’s stock worth $620,000 after acquiring an additional 10,873 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Clarus during the first quarter valued at $107,000. Marshall Wace LLP acquired a new position in shares of Clarus in the 2nd quarter valued at $100,000. Gabelli Funds LLC boosted its position in shares of Clarus by 16.7% in the 2nd quarter. Gabelli Funds LLC now owns 70,000 shares of the company’s stock valued at $243,000 after purchasing an additional 10,000 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Clarus by 344.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 66,498 shares of the company’s stock worth $233,000 after purchasing an additional 51,548 shares in the last quarter. Institutional investors and hedge funds own 90.30% of the company’s stock.

About Clarus

Clarus Corporation (NASDAQ: CLAR) is a global designer, manufacturer and marketer of outdoor recreation equipment. The company’s portfolio of brands serves enthusiasts across climbing, skiing, trail running, paddling and snow safety, combining purpose-driven innovation with in-house manufacturing capabilities. Clarus focuses on high-performance gear developed to meet the demands of professional athletes and recreational users alike.

The company’s flagship brand, Black Diamond Equipment, offers climbing protection, apparel, ski bindings and accessories engineered for backcountry and alpine environments.