Raymond James Financial Downgrades Black Diamond Group (TSE:BDI) to Outperform

Black Diamond Group (TSE:BDI) was downgraded by research analysts at Raymond James Financial from a “strong-buy” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. They presently have a C$20.00 price objective on the stock, up from their previous price objective of C$18.00. Raymond James Financial’s target price points to a potential upside of 22.47% from the stock’s current price.

BDI has been the topic of a number of other reports. Canaccord Genuity Group upped their target price on shares of Black Diamond Group from C$13.50 to C$17.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Acumen Capital boosted their price objective on shares of Black Diamond Group from C$14.50 to C$17.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Finally, BMO Capital Markets upped their price objective on shares of Black Diamond Group from C$18.00 to C$20.00 in a report on Friday. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, Black Diamond Group currently has an average rating of “Buy” and a consensus target price of C$18.50.

Black Diamond Group Stock Down 0.7%

BDI traded down C$0.12 on Tuesday, hitting C$16.33. The company had a trading volume of 32,417 shares, compared to its average volume of 148,713. The stock has a fifty day simple moving average of C$14.60 and a 200-day simple moving average of C$13.37. The company has a debt-to-equity ratio of 88.46, a current ratio of 1.17 and a quick ratio of 1.05. The firm has a market capitalization of C$1.10 billion, a P/E ratio of 28.16 and a beta of 0.85. Black Diamond Group has a 52-week low of C$7.60 and a 52-week high of C$16.80.

Black Diamond Group (TSE:BDI) last announced its earnings results on Thursday, October 30th. The company reported C$0.18 earnings per share (EPS) for the quarter. The firm had revenue of C$105.32 million during the quarter. Black Diamond Group had a return on equity of 8.11% and a net margin of 6.46%. As a group, equities analysts expect that Black Diamond Group will post 0.5349233 EPS for the current fiscal year.

Insider Buying and Selling at Black Diamond Group

In related news, Director Robert Wagemakers sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of C$14.10, for a total transaction of C$282,000.00. Following the completion of the sale, the director owned 543,580 shares of the company’s stock, valued at C$7,664,478. This trade represents a 3.55% decrease in their ownership of the stock. 23.83% of the stock is owned by company insiders.

About Black Diamond Group

Black Diamond Group Ltd rents and sells space rental solutions and modular workforce accommodations to business customers in Canada, the United States and Australia. The company also provides specialized field rentals to the oil and gas industries of Canada and the United States. Besides, Black Diamond Group provides turnkey lodging services, as well as a host of related services that include transportation, installation, dismantling, repairs, maintenance, and ancillary field equipment rentals. From its locations, the company serves multiple sectors including oil and gas, mining, power, construction, engineering, military, government, and education.