Zacks Investment Research Downgrades Clarus (CLAR) 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 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 target on shares of Clarus and gave the company a “buy” rating in a research report on Saturday, December 16th.

Shares of Clarus (NASDAQ:CLAR) traded up $0.10 during mid-day trading on Tuesday, reaching $7.10. 33,900 shares of the company’s stock traded hands, compared to its average volume of 33,214. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.53 and a quick ratio of 1.68. Clarus has a 52 week low of $5.00 and a 52 week high of $8.00. The stock has a market cap of $213.09, a PE ratio of -26.30, a PEG ratio of 0.86 and a beta of 1.45.

In related news, Director Nicolas Sokolow purchased 5,076 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The shares were purchased at an average cost of $7.26 per share, for a total transaction of $36,851.76. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, insider Aaron Kuehne purchased 5,923 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The shares were bought at an average price of $7.21 per share, for a total transaction of $42,704.83. The disclosure for this purchase can be found here. Company insiders own 33.60% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Stifel Financial Corp raised its stake in Clarus by 2.0% during the 2nd quarter. Stifel Financial Corp now owns 20,898 shares of the company’s stock worth $139,000 after acquiring an additional 400 shares in the last quarter. Ameriprise Financial Inc. acquired a new stake in Clarus during the 2nd quarter worth $146,000. Rhumbline Advisers acquired a new stake in Clarus during the 2nd quarter worth $175,000. Schwab Charles Investment Management Inc. acquired a new stake in Clarus during the 2nd quarter worth $232,000. Finally, Teachers Advisors LLC acquired a new position in Clarus in the second quarter valued at $240,000. Hedge funds and other institutional investors own 50.47% of the company’s stock.

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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.

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