Stifel Nicolaus upgraded shares of Black Diamond, Inc. (NASDAQ:BDE) from a hold rating to a buy rating in a research note issued to investors on Wednesday, August 2nd, MarketBeat reports. Stifel Nicolaus currently has $8.00 price target on the stock, up from their previous price target of $6.00.
Separately, Zacks Investment Research raised shares of Black Diamond from a strong sell rating to a strong-buy rating and set a $6.25 price objective for the company in a research note on Tuesday, May 9th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Black Diamond presently has a consensus rating of Hold and a consensus price target of $7.42.
Black Diamond (NASDAQ:BDE) opened at 6.65 on Wednesday. Black Diamond has a 12-month low of $4.41 and a 12-month high of $7.15. The company has a 50-day moving average price of $6.73 and a 200-day moving average price of $5.95.
Black Diamond (NASDAQ:BDE) last issued its earnings results on Monday, August 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by $0.08. The company had revenue of $30.70 million for the quarter, compared to analyst estimates of $30.63 million. Black Diamond had a negative net margin of 4.51% and a negative return on equity of 0.72%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period last year, the business earned ($0.08) EPS. Equities analysts expect that Black Diamond will post $0.07 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the company. California Public Employees Retirement System purchased a new position in shares of Black Diamond during the first quarter valued at approximately $105,000. Stifel Financial Corp bought a new position in Black Diamond during the first quarter valued at about $112,000. Ameriprise Financial Inc. bought a new position in Black Diamond during the second quarter valued at about $146,000. Marquette Asset Management Inc. bought a new position in Black Diamond during the first quarter valued at about $125,000. Finally, Rhumbline Advisers bought a new position in Black Diamond during the second quarter valued at about $175,000. Hedge funds and other institutional investors own 44.38% 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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