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Shares of Black Diamond (NYSE:BDE) hit a new 52-week low on Tuesday following a dissappointing earnings announcement, American Banking and Market News reports. The stock traded as low as $7.73 and last traded at $8.01, with a volume of 462,232 shares changing hands. The stock had previously closed at $8.87.

The company reported ($0.11) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.08) by $0.03. The company had revenue of $34.40 million for the quarter, compared to the consensus estimate of $43.65 million. During the same quarter last year, the company posted ($0.01) earnings per share. Black Diamond’s revenue was up 17.8% compared to the same quarter last year.

A number of research firms have recently commented on BDE. Analysts at DA Davidson cut their price target on shares of Black Diamond from $12.00 to $10.00 in a research note on Tuesday. Separately, analysts at Needham & Company LLC cut their price target on shares of Black Diamond from $15.00 to $10.00 in a research note on Tuesday. Finally, analysts at Canaccord Genuity cut their price target on shares of Black Diamond from $17.00 to $12.00 in a research note on Tuesday. They now have a “buy” rating on the stock. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $14.25.

The stock has a 50-day moving average of $10.31 and a 200-day moving average of $10.92. The company’s market cap is $260.0 million.

Black Diamond, Inc (NYSE:BDE), formerly Clarus Corporation, incorporated in 1991, is engaged in designing, manufacturing and marketing outdoor performance products for climbing, mountaineering, backpacking, skiing and other outdoor recreation activities.

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