Clarus (NASDAQ:CLAR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday, Zacks.com reports. The firm presently has a $16.00 price target on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 11.34% from the company’s current price.
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. “
Other equities analysts have also issued reports about the stock. BidaskClub lowered shares of Xilinx from a “buy” rating to a “hold” rating in a report on Saturday, June 15th. Macquarie set a $79.00 price objective on shares of Alaska Air Group and gave the company a “buy” rating in a report on Friday, July 12th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $15.20.
Clarus (NASDAQ:CLAR) last announced its earnings results on Monday, May 6th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.05. Clarus had a net margin of 4.85% and a return on equity of 11.92%. The company had revenue of $61.22 million for the quarter, compared to analyst estimates of $58.13 million. As a group, sell-side analysts predict that Clarus will post 0.69 EPS for the current year.
Several hedge funds have recently modified their holdings of CLAR. Metropolitan Life Insurance Co. NY bought a new position in Clarus in the fourth quarter valued at $77,000. MetLife Investment Advisors LLC acquired a new stake in Clarus in the fourth quarter valued at $105,000. Strs Ohio acquired a new stake in Clarus in the first quarter valued at $108,000. Squarepoint Ops LLC lifted its stake in Clarus by 10.3% in the fourth quarter. Squarepoint Ops LLC now owns 12,332 shares of the company’s stock valued at $125,000 after acquiring an additional 1,151 shares during the last quarter. Finally, Handelsinvest Investeringsforvaltning acquired a new stake in Clarus in the first quarter valued at $128,000. 61.63% of the stock is owned by institutional investors.
Clarus Company Profile
Clarus Corporation focuses on the outdoor and consumer industries in the United States, Canada, Europe, the Middle East, Asia, Australia, New Zealand, Africa, and South America. The company develops, manufactures, and distributes outdoor equipment and lifestyle products with focus on the climb, ski, mountain, sport, and skincare categories.
See Also: How to Invest in Marijuana Stocks
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.