Intrinsic value of Clarus - CLAR

Previous Close

$11.37

  Intrinsic Value

$0.68

stock screener

  Rating & Target

str. sell

-94%

Previous close

$11.37

 
Intrinsic value

$0.68

 
Up/down potential

-94%

 
Rating

str. sell

We calculate the intrinsic value of CLAR stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.3

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  49.50
  45.05
  41.05
  37.44
  34.20
  31.28
  28.65
  26.28
  24.16
  22.24
  20.52
  18.96
  17.57
  16.31
  15.18
  14.16
  13.25
  12.42
  11.68
  11.01
  10.41
  9.87
  9.38
  8.94
  8.55
  8.19
  7.88
  7.59
  7.33
  7.10
Revenue, $m
  255
  370
  522
  718
  963
  1,264
  1,626
  2,054
  2,550
  3,117
  3,756
  4,468
  5,254
  6,110
  7,038
  8,035
  9,099
  10,229
  11,424
  12,682
  14,002
  15,384
  16,827
  18,332
  19,900
  21,530
  23,226
  24,988
  26,820
  28,723
Variable operating expenses, $m
  235
  337
  472
  645
  863
  1,130
  1,451
  1,831
  2,271
  2,774
  3,333
  3,966
  4,662
  5,423
  6,246
  7,131
  8,075
  9,078
  10,138
  11,255
  12,426
  13,653
  14,934
  16,269
  17,660
  19,108
  20,612
  22,176
  23,802
  25,491
Fixed operating expenses, $m
  15
  16
  16
  16
  17
  17
  17
  18
  18
  19
  19
  19
  20
  20
  21
  21
  22
  22
  23
  23
  24
  24
  25
  25
  26
  26
  27
  28
  28
  29
Total operating expenses, $m
  250
  353
  488
  661
  880
  1,147
  1,468
  1,849
  2,289
  2,793
  3,352
  3,985
  4,682
  5,443
  6,267
  7,152
  8,097
  9,100
  10,161
  11,278
  12,450
  13,677
  14,959
  16,294
  17,686
  19,134
  20,639
  22,204
  23,830
  25,520
Operating income, $m
  5
  18
  34
  56
  83
  117
  157
  205
  260
  324
  404
  483
  571
  667
  771
  883
  1,002
  1,129
  1,263
  1,404
  1,552
  1,707
  1,869
  2,038
  2,213
  2,396
  2,587
  2,784
  2,990
  3,203
EBITDA, $m
  18
  33
  53
  78
  110
  149
  196
  252
  317
  391
  475
  568
  671
  783
  905
  1,036
  1,175
  1,323
  1,480
  1,645
  1,818
  1,999
  2,189
  2,386
  2,592
  2,806
  3,028
  3,260
  3,500
  3,750
Interest expense (income), $m
  1
  1
  3
  4
  7
  10
  14
  18
  24
  31
  38
  47
  57
  68
  80
  94
  108
  124
  140
  158
  177
  196
  217
  238
  261
  284
  309
  334
  361
  388
  416
Earnings before tax, $m
  4
  15
  30
  49
  74
  103
  139
  181
  230
  285
  356
  426
  503
  587
  677
  775
  878
  988
  1,105
  1,227
  1,356
  1,490
  1,630
  1,777
  1,929
  2,088
  2,252
  2,424
  2,602
  2,787
Tax expense, $m
  1
  4
  8
  13
  20
  28
  38
  49
  62
  77
  96
  115
  136
  158
  183
  209
  237
  267
  298
  331
  366
  402
  440
  480
  521
  564
  608
  654
  702
  752
Net income, $m
  3
  11
  22
  36
  54
  75
  101
  132
  168
  208
  260
  311
  367
  428
  494
  565
  641
  722
  807
  896
  990
  1,088
  1,190
  1,297
  1,408
  1,524
  1,644
  1,769
  1,899
  2,034

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  310
  449
  634
  871
  1,169
  1,534
  1,974
  2,492
  3,094
  3,782
  4,558
  5,423
  6,376
  7,416
  8,541
  9,751
  11,043
  12,414
  13,864
  15,391
  16,993
  18,670
  20,421
  22,248
  24,150
  26,129
  28,187
  30,326
  32,548
  34,858
Adjusted assets (=assets-cash), $m
  310
  449
  634
  871
  1,169
  1,534
  1,974
  2,492
  3,094
  3,782
  4,558
  5,423
  6,376
  7,416
  8,541
  9,751
  11,043
  12,414
  13,864
  15,391
  16,993
  18,670
  20,421
  22,248
  24,150
  26,129
  28,187
  30,326
  32,548
  34,858
Revenue / Adjusted assets
  0.823
  0.824
  0.823
  0.824
  0.824
  0.824
  0.824
  0.824
  0.824
  0.824
  0.824
  0.824
  0.824
  0.824
  0.824
  0.824
  0.824
  0.824
  0.824
  0.824
  0.824
  0.824
  0.824
  0.824
  0.824
  0.824
  0.824
  0.824
  0.824
  0.824
Average production assets, $m
  69
  101
  142
  195
  262
  344
  442
  559
  694
  848
  1,022
  1,215
  1,429
  1,662
  1,914
  2,185
  2,475
  2,782
  3,107
  3,449
  3,809
  4,184
  4,577
  4,986
  5,413
  5,856
  6,317
  6,797
  7,295
  7,813
Working capital, $m
  116
  168
  238
  326
  438
  575
  740
  934
  1,160
  1,418
  1,709
  2,033
  2,390
  2,780
  3,202
  3,656
  4,140
  4,654
  5,198
  5,770
  6,371
  7,000
  7,656
  8,341
  9,054
  9,796
  10,568
  11,370
  12,203
  13,069
Total debt, $m
  43
  73
  112
  163
  226
  305
  399
  510
  639
  786
  952
  1,137
  1,341
  1,563
  1,804
  2,063
  2,339
  2,633
  2,943
  3,270
  3,613
  3,972
  4,347
  4,737
  5,144
  5,568
  6,008
  6,466
  6,942
  7,436
Total liabilities, $m
  66
  96
  136
  186
  250
  328
  422
  533
  662
  809
  976
  1,161
  1,364
  1,587
  1,828
  2,087
  2,363
  2,657
  2,967
  3,294
  3,636
  3,995
  4,370
  4,761
  5,168
  5,592
  6,032
  6,490
  6,965
  7,460
Total equity, $m
  243
  353
  498
  684
  918
  1,206
  1,551
  1,959
  2,432
  2,973
  3,583
  4,262
  5,011
  5,829
  6,713
  7,664
  8,679
  9,758
  10,897
  12,097
  13,356
  14,674
  16,051
  17,487
  18,982
  20,537
  22,155
  23,836
  25,583
  27,398
Total liabilities and equity, $m
  309
  449
  634
  870
  1,168
  1,534
  1,973
  2,492
  3,094
  3,782
  4,559
  5,423
  6,375
  7,416
  8,541
  9,751
  11,042
  12,415
  13,864
  15,391
  16,992
  18,669
  20,421
  22,248
  24,150
  26,129
  28,187
  30,326
  32,548
  34,858
Debt-to-equity ratio
  0.180
  0.210
  0.220
  0.240
  0.250
  0.250
  0.260
  0.260
  0.260
  0.260
  0.270
  0.270
  0.270
  0.270
  0.270
  0.270
  0.270
  0.270
  0.270
  0.270
  0.270
  0.270
  0.270
  0.270
  0.270
  0.270
  0.270
  0.270
  0.270
  0.270
Adjusted equity ratio
  0.786
  0.786
  0.786
  0.786
  0.786
  0.786
  0.786
  0.786
  0.786
  0.786
  0.786
  0.786
  0.786
  0.786
  0.786
  0.786
  0.786
  0.786
  0.786
  0.786
  0.786
  0.786
  0.786
  0.786
  0.786
  0.786
  0.786
  0.786
  0.786
  0.786

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  3
  11
  22
  36
  54
  75
  101
  132
  168
  208
  260
  311
  367
  428
  494
  565
  641
  722
  807
  896
  990
  1,088
  1,190
  1,297
  1,408
  1,524
  1,644
  1,769
  1,899
  2,034
Depreciation, amort., depletion, $m
  13
  15
  18
  22
  27
  32
  39
  47
  57
  68
  71
  85
  100
  116
  134
  153
  173
  195
  217
  241
  266
  293
  320
  349
  379
  410
  442
  475
  510
  546
Funds from operations, $m
  16
  26
  40
  58
  80
  108
  141
  179
  225
  276
  332
  396
  467
  545
  628
  718
  814
  916
  1,024
  1,137
  1,256
  1,380
  1,510
  1,646
  1,787
  1,933
  2,086
  2,245
  2,409
  2,581
Change in working capital, $m
  38
  52
  69
  89
  112
  137
  165
  194
  226
  258
  291
  324
  357
  390
  422
  454
  484
  514
  544
  572
  601
  629
  657
  685
  713
  742
  771
  802
  833
  866
Cash from operations, $m
  -22
  -26
  -29
  -31
  -31
  -29
  -24
  -15
  -1
  18
  41
  72
  110
  155
  206
  265
  330
  402
  480
  565
  655
  752
  854
  961
  1,074
  1,192
  1,315
  1,443
  1,576
  1,715
Maintenance CAPEX, $m
  -3
  -5
  -7
  -10
  -14
  -18
  -24
  -31
  -39
  -48
  -59
  -71
  -85
  -100
  -116
  -134
  -153
  -173
  -195
  -217
  -241
  -266
  -293
  -320
  -349
  -379
  -410
  -442
  -475
  -510
New CAPEX, $m
  -23
  -31
  -41
  -53
  -67
  -82
  -99
  -116
  -135
  -154
  -174
  -194
  -214
  -233
  -252
  -271
  -289
  -307
  -325
  -342
  -359
  -376
  -393
  -409
  -426
  -444
  -461
  -479
  -498
  -518
Cash from investing activities, $m
  -26
  -36
  -48
  -63
  -81
  -100
  -123
  -147
  -174
  -202
  -233
  -265
  -299
  -333
  -368
  -405
  -442
  -480
  -520
  -559
  -600
  -642
  -686
  -729
  -775
  -823
  -871
  -921
  -973
  -1,028
Free cash flow, $m
  -49
  -62
  -77
  -94
  -112
  -130
  -147
  -162
  -175
  -185
  -192
  -193
  -189
  -178
  -162
  -140
  -112
  -79
  -39
  5
  55
  109
  168
  232
  299
  369
  444
  522
  603
  687
Issuance/(repayment) of debt, $m
  22
  30
  39
  51
  64
  78
  94
  111
  129
  147
  166
  185
  204
  223
  241
  259
  276
  294
  310
  327
  343
  359
  375
  391
  407
  424
  440
  458
  476
  494
Issuance/(repurchase) of shares, $m
  78
  99
  123
  150
  180
  212
  244
  276
  305
  333
  350
  368
  382
  389
  390
  385
  374
  357
  333
  304
  270
  230
  187
  139
  87
  32
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  100
  129
  162
  201
  244
  290
  338
  387
  434
  480
  516
  553
  586
  612
  631
  644
  650
  651
  643
  631
  613
  589
  562
  530
  494
  456
  440
  458
  476
  494
Total cash flow (excl. dividends), $m
  51
  66
  85
  107
  132
  161
  191
  224
  259
  295
  323
  360
  397
  433
  469
  504
  538
  571
  604
  636
  668
  699
  730
  761
  792
  825
  884
  979
  1,078
  1,181
Retained Cash Flow (-), $m
  -80
  -110
  -145
  -186
  -234
  -287
  -345
  -408
  -473
  -541
  -610
  -679
  -749
  -817
  -885
  -951
  -1,015
  -1,078
  -1,140
  -1,200
  -1,259
  -1,318
  -1,377
  -1,436
  -1,495
  -1,556
  -1,617
  -1,681
  -1,747
  -1,815
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  -30
  -43
  -60
  -79
  -102
  -127
  -154
  -183
  -214
  -246
  -287
  -319
  -352
  -384
  -416
  -447
  -477
  -507
  -536
  -564
  -592
  -619
  -647
  -675
  -703
  -731
  -733
  -702
  -669
  -634
Discount rate, %
  6.20
  6.51
  6.84
  7.18
  7.54
  7.91
  8.31
  8.72
  9.16
  9.62
  10.10
  10.60
  11.13
  11.69
  12.28
  12.89
  13.53
  14.21
  14.92
  15.67
  16.45
  17.27
  18.14
  19.04
  20.00
  21.00
  22.05
  23.15
  24.30
  25.52
PV of cash for distribution, $m
  -28
  -38
  -49
  -60
  -71
  -80
  -88
  -94
  -97
  -98
  -99
  -95
  -89
  -82
  -73
  -64
  -55
  -46
  -38
  -31
  -24
  -19
  -14
  -10
  -7
  -5
  -3
  -2
  -1
  -1
Current shareholders' claim on cash, %
  81.3
  68.0
  58.2
  50.7
  45.0
  40.5
  36.9
  34.0
  31.6
  29.6
  28.0
  26.7
  25.6
  24.7
  23.9
  23.2
  22.7
  22.3
  21.9
  21.6
  21.4
  21.2
  21.1
  21.0
  20.9
  20.9
  20.9
  20.9
  20.9
  20.9

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. Its principal brands include Black Diamond and PIEPS. It offer a range of products, including apparel, such as jackets, shells, pants and bibs; rock-climbing equipment, such as carabiners, protection devices, harnesses, belay devices, helmets, and ice-climbing gear; technical backpacks and high-end day packs; tents; trekking poles; headlamps and lanterns, and gloves and mittens. The Company also offers advanced skis, ski poles, ski bindings, ski skins, and ski safety products, including avalanche airbag systems, avalanche transceivers, shovels and probes. The Company's products are sold in North America, Europe, Asia, and the rest of the world in over 50 countries.

FINANCIAL RATIOS  of  Clarus (CLAR)

Valuation Ratios
P/E Ratio -37.9
Price to Sales 2.3
Price to Book 2.1
Price to Tangible Book
Price to Cash Flow 68.3
Price to Free Cash Flow 170.7
Growth Rates
Sales Growth Rate -4.5%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 0%
Cap. Spend. - 3 Yr. Gr. Rate -9.7%
Financial Strength
Quick Ratio 4
Current Ratio 0
LT Debt to Equity 0%
Total Debt to Equity 13.7%
Interest Coverage -7
Management Effectiveness
Return On Assets -3.6%
Ret/ On Assets - 3 Yr. Avg. -8.9%
Return On Total Capital -4.8%
Ret/ On T. Cap. - 3 Yr. Avg. -11%
Return On Equity -5.4%
Return On Equity - 3 Yr. Avg. -12%
Asset Turnover 0.7
Profitability Ratios
Gross Margin 29.7%
Gross Margin - 3 Yr. Avg. 33.8%
EBITDA Margin -2.7%
EBITDA Margin - 3 Yr. Avg. -9.1%
Operating Margin -4.1%
Oper. Margin - 3 Yr. Avg. -11.6%
Pre-Tax Margin -5.4%
Pre-Tax Margin - 3 Yr. Avg. -13.1%
Net Profit Margin -6.1%
Net Profit Margin - 3 Yr. Avg. -15.8%
Effective Tax Rate -12.5%
Eff/ Tax Rate - 3 Yr. Avg. -36.5%
Payout Ratio 0%

CLAR stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the CLAR stock intrinsic value calculation we used $170.687 million for the last fiscal year's total revenue generated by Clarus. The default revenue input number comes from 0001 income statement of Clarus. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our CLAR stock valuation model: a) initial revenue growth rate of 49.5% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 6.2%, whose default value for CLAR is calculated based on our internal credit rating of Clarus, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Clarus.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of CLAR stock the variable cost ratio is equal to 93.6%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $15 million in the base year in the intrinsic value calculation for CLAR stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 6% for Clarus.

Corporate tax rate of 27% is the nominal tax rate for Clarus. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the CLAR stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for CLAR are equal to 27.2%.

Life of production assets of 14.3 years is the average useful life of capital assets used in Clarus operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for CLAR is equal to 45.5%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $162.982 million for Clarus - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 29.634 million for Clarus is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Clarus at the current share price and the inputted number of shares is $0.3 billion.

COMPANY NEWS

▶ Clarus Announces $0.025 Per Share Quarterly Cash Dividend   [Oct-26-18 10:10AM  GlobeNewswire]
▶ Clarus Initiates Quarterly Cash Dividend   [08:30AM  GlobeNewswire]
▶ Clarus Announces Results of Tender Offer   [Jul-12-18 04:30PM  GlobeNewswire]
▶ Should You Buy Clarus Corporation (NASDAQ:CLAR)?   [Jun-22-18 11:39AM  Simply Wall St.]
▶ Clarus Corporation Sets June 2018 Conference Schedule   [Jun-07-18 08:30AM  GlobeNewswire]
▶ Clarus Announces Extension of Its Tender Offer   [Jun-05-18 06:00PM  GlobeNewswire]
▶ Clarus Corporation to Expand in Utah   [May-15-18 08:30AM  GlobeNewswire]
▶ Moving Average Crossover Alert: Clarus (CLAR)   [Mar-28-18 10:31AM  Zacks]
▶ Clarus Black Diamond Opens Anchorage, Alaska Retail Store   [Mar-26-18 08:30AM  GlobeNewswire]
▶ Clarus Promotes John Walbrecht to President   [08:30AM  GlobeNewswire]
▶ Is Clarus Corporation (NASDAQ:CLAR) Undervalued?   [Mar-03-18 04:03PM  Simply Wall St.]
▶ Are Clarus Corporations (NASDAQ:CLAR) Interest Costs Too High?   [Jan-05-18 07:30AM  Simply Wall St.]
▶ ETFs with exposure to Clarus Corp. : December 29, 2017   [Dec-29-17 11:44AM  Capital Cube]
▶ ETFs with exposure to Clarus Corp. : November 27, 2017   [Nov-27-17 12:42PM  Capital Cube]
▶ ETFs with exposure to Clarus Corp. : November 14, 2017   [Nov-14-17 02:06PM  Capital Cube]
▶ Should You Buy Clarus Corporation (CLAR)?   [Nov-10-17 06:15PM  Simply Wall St.]
▶ ETFs with exposure to Clarus Corp. : October 3, 2017   [Oct-03-17 11:04AM  Capital Cube]
▶ Why Clarus Corporation (CLAR) Could Be A Buy   [Sep-11-17 11:15AM  Simply Wall St.]
▶ ETFs with exposure to Clarus Corp. : August 25, 2017   [Aug-25-17 04:03PM  Capital Cube]
▶ Clarus Acquires Sierra Bullets for $79 Million   [Aug-22-17 08:30AM  GlobeNewswire]

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