Black Diamond, Inc. (NASDAQ:BDE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Friday.

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 upgraded Black Diamond from a “hold” rating to a “buy” rating and raised their target price for the company from $6.00 to $8.00 in a report on Wednesday.

Black Diamond (NASDAQ BDE) traded up 2.16% during mid-day trading on Friday, reaching $7.10. 82,745 shares of the company were exchanged. The stock’s 50-day moving average price is $6.63 and its 200-day moving average price is $5.89. Black Diamond has a 1-year low of $4.15 and a 1-year high of $7.15.

Black Diamond (NASDAQ:BDE) last issued its quarterly earnings data on Monday, May 8th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. The firm had revenue of $41.56 million during the quarter, compared to the consensus estimate of $39.22 million. Black Diamond had a negative return on equity of 0.03% and a negative net margin of 4.24%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the company earned ($0.07) EPS. Equities analysts predict that Black Diamond will post $0.08 EPS for the current fiscal year.

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A number of institutional investors have recently made changes to their positions in BDE. Schwab Charles Investment Management Inc. purchased a new position in shares of Black Diamond during the second quarter worth approximately $232,000. Essex Investment Management Co. LLC boosted its position in shares of Black Diamond by 53.3% in the second quarter. Essex Investment Management Co. LLC now owns 255,533 shares of the company’s stock worth $1,699,000 after buying an additional 88,821 shares during the period. Marquette Asset Management Inc. boosted its position in shares of Black Diamond by 9.5% in the second quarter. Marquette Asset Management Inc. now owns 25,124 shares of the company’s stock worth $167,000 after buying an additional 2,176 shares during the period. Wynnefield Capital Inc. boosted its position in shares of Black Diamond by 23.9% in the first quarter. Wynnefield Capital Inc. now owns 1,444,022 shares of the company’s stock worth $7,870,000 after buying an additional 278,382 shares during the period. Finally, Kennedy Capital Management Inc. boosted its position in shares of Black Diamond by 1.6% in the first quarter. Kennedy Capital Management Inc. now owns 1,435,266 shares of the company’s stock worth $7,822,000 after buying an additional 22,055 shares during the period. Institutional investors own 44.27% of the company’s stock.

Black Diamond Company Profile

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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