DA Davidson cut shares of Black Diamond (NYSE:BDE) from a buy rating to a neutral rating in a research note issued to investors on Tuesday, TheFlyOnTheWall.com reports. The firm currently has $15.00 price target on the stock.
“BDE reported revenue of $52.8 million, well below our estimate of $58.2 million and consensus of $59.7 million. Pro-forma fully taxed EPS, GAAP EPS and adjusted cash EPS were $(0.01), $(0.04) and $0.11, respectively. Consensus EPS was $0.05. Revenue grew 8% year-over-year (y/y), fueled by 4% growth in domestic sales and 11% international growth. Gross margin of 40.2% was up 8bp y/y driven by favorable product mix (+210bp) and FX (+30bp), partially offset by discontinued merchandise and inventory adjustments (-230bp). SG&A of $21.0 million was up 28% y/y. Full year 2013 guidance was reiterated (excluding 1x product recall costs of $1.5 million) calling for revenue of $205-$210 million (17%-19% y/y growth) and gross margin of 38.5%-40.0%.,” the firm’s analyst commented.
Several other analysts have also recently commented on the stock. Analysts at Thomson Reuters/Verus downgraded shares of Black Diamond from a hold rating to a sell rating in a research note to investors on Monday. Separately, analysts at Stifel Nicolaus raised their price target on shares of Black Diamond from $15.00 to $19.00 in a research note to investors on Wednesday, October 30th. They now have a buy rating on the stock. Finally, analysts at Stifel Nicolaus reiterated a buy rating on shares of Black Diamond in a research note to investors on Monday, October 7th. They now have a $15.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $14.79.
Shares of Black Diamond (NYSE:BDE) traded down 2.67% during mid-day trading on Tuesday, hitting $12.40. The stock had a trading volume of 191,596 shares. Black Diamond has a 52-week low of $7.55 and a 52-week high of $15.15. The stock’s 50-day moving average is $13.47 and its 200-day moving average is $10.76. The company’s market cap is $395.5 million.
Black Diamond (NYSE:BDE) last announced its earnings results on Monday, November 4th. The company reported $0.11 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.04 by $0.07. The company had revenue of $52.78 million for the quarter, compared to the consensus estimate of $60.04 million. The company’s quarterly revenue was up 8.3% on a year-over-year basis. On average, analysts predict that Black Diamond will post $-0.15 earnings per share for the current fiscal year.
Black Diamond, Inc (NYSE:BDE), formerly Clarus Corporation, is engaged in designing, manufacturing and marketing outdoor performance products for climbing, mountaineering, backpacking, skiing and other outdoor recreation activities.
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