Clarus Corp (CLAR) PT Raised to $21 at DA Davidson

February 1, 2021 5:43 PM EST
Get Alerts CLAR Hot Sheet
Price: $17.71 -0.17%

Rating Summary:
    6 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 17 | Down: 13 | New: 41
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DA Davidson analyst Linda Bolton Weiser raised the price target on Clarus Corp (NASDAQ: CLAR) to $21.00 (from $20.00) while maintaining a Buy rating.

The analyst commented, "CLAR preannounced 4Q20 sales +23%, exceeding guidance of +11%-13%. Organic sales were +12%, an improvement from +7% in 3Q20. The Barnes acquisition contributed $6.5M ($5.0M exp.). EBITDA came in at $10.5M, +50% Y/Y, exceeding consensus of $9.8M. Black Diamond sales were flat (-8% in 3Q20) and Sierra's organic sales were +147% (+135% in 3Q20). We are raising our EBITDA estimates by 6% and boosting our PT to $21 from $20, based on 17x 2022E EBITDA of $40M. CLAR is well positioned for >20% sales and >50% EBITDA growth in 2021E, driven by a healthy rebound in Black Diamond and continued robust demand in Sierra/Barnes. We reiterate our BUY rating."



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