Black Diamond Inc. (BDE) Upgraded to “Hold” by TheStreet
A number of other brokerages have also recently issued reports on BDE. Zacks Investment Research cut shares of Black Diamond from a buy rating to a hold rating in a research note on Friday, November 4th. DA Davidson raised shares of Black Diamond from a neutral rating to a buy rating and boosted their target price for the stock from $4.50 to $6.00 in a research note on Monday, August 8th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $5.63.
Black Diamond (NASDAQ:BDE) remained flat at $6.00 on Monday. Black Diamond has a one year low of $3.85 and a one year high of $6.35. The company’s 50-day moving average price is $5.35 and its 200 day moving average price is $4.69.
Black Diamond (NASDAQ:BDE) last announced its quarterly earnings data on Monday, October 31st. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.07. The business had revenue of $39.40 million for the quarter, compared to analysts’ expectations of $37.60 million. Black Diamond had a negative net margin of 18.77% and a negative return on equity of 1.89%. The firm’s quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the firm posted $0.08 earnings per share. On average, analysts forecast that Black Diamond will post ($0.03) earnings per share for the current year.
Several institutional investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its position in shares of Black Diamond by 32.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 27,200 shares of the company’s stock worth $113,000 after buying an additional 6,700 shares during the period. Alpine Partners VI LLC acquired a new position in shares of Black Diamond during the second quarter worth approximately $120,000. Nationwide Fund Advisors raised its position in shares of Black Diamond by 99.0% in the second quarter. Nationwide Fund Advisors now owns 29,310 shares of the company’s stock worth $121,000 after buying an additional 14,578 shares during the period. Baker Ellis Asset Management LLC acquired a new position in shares of Black Diamond during the third quarter worth approximately $133,000. Finally, Alambic Investment Management L.P. acquired a new position in shares of Black Diamond during the second quarter worth approximately $152,000. Institutional investors own 42.14% 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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