Black Diamond, Inc. (NASDAQ:BDE) issued its quarterly earnings results on Monday, August 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by $0.08, Morningstar.com reports. Black Diamond had a negative net margin of 4.51% and a negative return on equity of 0.72%. The business had revenue of $30.70 million during the quarter, compared to analyst estimates of $30.63 million. During the same period in the prior year, the business posted ($0.08) earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year.
Black Diamond (BDE) opened at 6.65 on Friday. The company has a 50-day moving average of $6.73 and a 200 day moving average of $5.95. Black Diamond has a 52-week low of $4.41 and a 52-week high of $7.15.
A number of large investors have recently bought and sold shares of the stock. Wynnefield Capital Inc. raised its stake in 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 in the last quarter. Kennedy Capital Management Inc. raised 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 valued at $7,822,000 after buying an additional 22,055 shares during the period. Renaissance Technologies LLC raised its position 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. Essex Investment Management Co. LLC raised 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 valued at $1,699,000 after buying an additional 88,821 shares during the period. Finally, Northern Trust Corp increased its stake in Black Diamond by 271.7% in the second quarter. Northern Trust Corp now owns 243,149 shares of the company’s stock worth $1,617,000 after buying an additional 177,736 shares in the last quarter. Institutional investors own 44.73% of the company’s stock.
A number of research firms recently weighed in on BDE. Zacks Investment Research downgraded Black Diamond from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Roth Capital set a $7.00 price target on shares of Black Diamond and gave the stock a “hold” rating in a research note on Tuesday, August 8th. Finally, Stifel Nicolaus upgraded shares of Black Diamond from a “hold” rating to a “buy” rating and raised their price target for the stock from $6.00 to $8.00 in a research note on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $7.42.
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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