Black Diamond Inc (NASDAQ:BDE) was upgraded by Zacks Investment Research from a “strong sell” rating to a “strong-buy” rating in a research report issued on Tuesday, May 9th. The brokerage currently has a $6.25 target price on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 5.93% from the stock’s previous close.
According to Zacks, “Black Diamond, Inc., formerly known as Clarus Corporation, operates as a manufacturer and distributor of outdoor recreation equipment and active lifestyle products. The Company’s product range include: rock-climbing equipment (such as carabiners, protection devices, harnesses, belay and devices, helmets, ice-climbing gear), technical backpacks and high-end day packs, tents, trekking poles, headlamps and lanterns, gloves and mittens, skis, ski bindings, ski boots, ski skins and avalanche safety equipment. Black Diamond, Inc. is headquartered in Salt Lake City, Utah. “
Separately, Stifel Nicolaus lowered shares of Black Diamond from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $5.50 to $6.00 in a report on Tuesday, March 7th.
Black Diamond (NASDAQ:BDE) opened at 5.90 on Tuesday. Black Diamond has a 12-month low of $3.93 and a 12-month high of $6.85. The company has a 50-day moving average price of $5.58 and a 200 day moving average price of $5.70.
Black Diamond (NASDAQ:BDE) last released its earnings results on Monday, May 8th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.01. Black Diamond had a negative net margin of 18.77% and a negative return on equity of 1.89%. The firm had revenue of $41.56 million during the quarter, compared to analyst estimates of $39.22 million. During the same period last year, the business earned ($0.07) earnings per share. The business’s revenue was up 8.8% on a year-over-year basis. Analysts expect that Black Diamond will post $0.14 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Essex Investment Management Co. LLC increased its position in shares of Black Diamond by 31.5% in the first quarter. Essex Investment Management Co. LLC now owns 166,712 shares of the company’s stock valued at $909,000 after buying an additional 39,961 shares in the last quarter. Marquette Asset Management Inc. bought a new stake in shares of Black Diamond during the first quarter valued at approximately $125,000. Searle & CO. bought a new stake in shares of Black Diamond during the fourth quarter valued at approximately $300,000. Greenhouse Funds LLLP bought a new stake in shares of Black Diamond during the fourth quarter valued at approximately $4,335,000. Finally, Ancora Advisors LLC boosted its stake in shares of Black Diamond by 2.3% in the fourth quarter. Ancora Advisors LLC now owns 90,000 shares of the company’s stock valued at $481,000 after buying an additional 2,000 shares during the last quarter. 40.79% of the stock is owned by institutional investors.
About Black Diamond
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.
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