Black Diamond Inc. (BDE) Stock Rating Upgraded by Zacks Investment Research
Black Diamond Inc. (NASDAQ:BDE) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday.
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, DA Davidson upgraded Black Diamond from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $4.50 to $6.00 in a research report on Monday, August 8th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Black Diamond presently has a consensus rating of “Buy” and a consensus target price of $5.50.
Shares of Black Diamond (NASDAQ:BDE) traded down 1.19% during trading on Tuesday, reaching $4.98. The company’s stock had a trading volume of 62,507 shares. The company has a 50 day moving average price of $4.74 and a 200 day moving average price of $4.46. Black Diamond has a 52 week low of $3.80 and a 52 week high of $6.94.
Black Diamond (NASDAQ:BDE) last posted its earnings results on Monday, August 1st. The company reported ($0.10) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.06) by $0.04. Black Diamond had a negative return on equity of 1.36% and a negative net margin of 50.46%. The firm had revenue of $29.10 million for the quarter, compared to analyst estimates of $28.32 million. During the same quarter last year, the firm posted $0.01 EPS. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. Equities research analysts forecast that Black Diamond will post ($0.10) EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of the stock. Brown Advisory Inc. boosted its position in Black Diamond by 2.6% in the second quarter. Brown Advisory Inc. now owns 1,354,681 shares of the company’s stock valued at $5,608,000 after buying an additional 33,948 shares during the last quarter. Royce & Associates LP boosted its position in Black Diamond by 12.7% in the first quarter. Royce & Associates LP now owns 1,322,803 shares of the company’s stock valued at $5,979,000 after buying an additional 148,750 shares during the last quarter. Adirondack Research & Management Inc. boosted its position in Black Diamond by 0.6% in the first quarter. Adirondack Research & Management Inc. now owns 1,043,902 shares of the company’s stock valued at $4,718,000 after buying an additional 6,500 shares during the last quarter. Boston Partners acquired a new position in Black Diamond during the second quarter valued at about $901,000. Finally, Geode Capital Management LLC boosted its position in Black Diamond by 1.1% in the first quarter. Geode Capital Management LLC now owns 163,731 shares of the company’s stock valued at $740,000 after buying an additional 1,744 shares during the last quarter. Hedge funds and other institutional investors own 44.01% of the company’s stock.
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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