Black Diamond, Inc. (NASDAQ:BDE) has been given a $7.00 target price by stock analysts at Roth Capital in a research report issued on Tuesday, August 8th. The firm currently has a “hold” rating on the stock. Roth Capital’s price target points to a potential upside of 5.26% from the stock’s current price.
Other analysts have also recently issued reports about the stock. Stifel Nicolaus upgraded shares of Black Diamond from a “hold” rating to a “buy” rating and raised their target price for the stock from $6.00 to $8.00 in a report on Wednesday, August 2nd. Zacks Investment Research upgraded shares of Black Diamond from a “hold” rating to a “buy” rating and set a $7.25 price target for the company in a research report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $7.42.
Shares of Black Diamond (NASDAQ BDE) traded up 0.76% on Tuesday, hitting $6.65. The company had a trading volume of 225,449 shares. The company has a 50-day moving average of $6.73 and a 200 day moving average of $5.95. Black Diamond has a 12 month low of $4.41 and a 12 month high of $7.15.
Black Diamond (NASDAQ:BDE) last issued its earnings results on Monday, August 7th. The company reported ($0.12) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.04) by $0.08. The business had revenue of $30.70 million for the quarter, compared to the consensus estimate of $30.63 million. Black Diamond had a negative return on equity of 0.72% and a negative net margin of 4.51%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.08) earnings per share. Equities analysts expect that Black Diamond will post $0.07 earnings per share for the current year.
Large investors have recently modified their holdings of the stock. Wynnefield Capital Inc. increased its stake 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 valued at $7,870,000 after buying an additional 278,382 shares during the period. Renaissance Technologies LLC increased its stake in shares of Black Diamond by 62.6% in the fourth quarter. Renaissance Technologies LLC now owns 626,300 shares of the company’s stock valued at $3,351,000 after buying an additional 241,200 shares during the period. Systematic Financial Management LP purchased a new stake in shares of Black Diamond during the first quarter valued at approximately $1,300,000. State Street Corp increased its stake in shares of Black Diamond by 1,618.8% in the second quarter. State Street Corp now owns 197,712 shares of the company’s stock valued at $1,316,000 after buying an additional 186,209 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Black Diamond by 271.7% in the second quarter. Northern Trust Corp now owns 243,149 shares of the company’s stock valued at $1,617,000 after buying an additional 177,736 shares during the period. Institutional investors and hedge funds own 44.73% 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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