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, DA Davidson raised Black Diamond from a neutral rating to a buy rating and boosted their price objective for the stock from $4.50 to $6.00 in a research report on Monday, August 8th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $5.50.
Shares of Black Diamond (NASDAQ:BDE) traded up 0.6305% during mid-day trading on Tuesday, hitting $5.0114. The company had a trading volume of 23,102 shares. Black Diamond has a 12-month low of $3.80 and a 12-month high of $6.54. The firm’s 50 day moving average is $4.75 and its 200-day moving average is $4.46.
Black Diamond (NASDAQ:BDE) last announced its quarterly earnings results on Monday, August 1st. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by $0.04. Black Diamond had a negative return on equity of 1.36% and a negative net margin of 50.46%. The company earned $29.10 million during the quarter, compared to analyst estimates of $28.32 million. During the same period in the prior year, the firm earned $0.01 EPS. Black Diamond’s quarterly revenue was down 3.3% on a year-over-year basis. Equities research analysts expect that Black Diamond will post ($0.10) earnings per share for the current year.
A number of institutional investors have recently modified their holdings of BDE. Brown Advisory Inc. raised its position in shares of Black Diamond by 2.6% in the second quarter. Brown Advisory Inc. now owns 1,354,681 shares of the company’s stock valued at $5,608,000 after buying an additional 33,948 shares in the last quarter. Smith Moore & CO. raised its stake in Black Diamond by 51.9% in the first quarter. Smith Moore & CO. now owns 113,593 shares of the company’s stock valued at $513,000 after buying an additional 38,800 shares in the last quarter. Royce & Associates LP raised its stake in Black Diamond by 12.7% in the first quarter. Royce & Associates LP now owns 1,322,803 shares of the company’s stock valued at $5,979,000 after buying an additional 148,750 shares in the last quarter. Renaissance Technologies LLC raised its stake in Black Diamond by 95.5% in the first quarter. Renaissance Technologies LLC now owns 81,700 shares of the company’s stock valued at $369,000 after buying an additional 39,900 shares in the last quarter. Finally, Adirondack Research & Management Inc. raised its stake in Black Diamond by 0.6% in the first quarter. Adirondack Research & Management Inc. now owns 1,043,902 shares of the company’s stock valued at $4,718,000 after buying an additional 6,500 shares in the last quarter. Hedge funds and other institutional investors own 44.01% 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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