Black Diamond, Inc. (CLAR) Receives Average Rating of “Buy” from Analysts

Shares of Black Diamond, Inc. (NASDAQ:CLAR) have been assigned a consensus broker rating score of 1.67 (Buy) from the three analysts that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and two have given a strong buy recommendation to the company.

Analysts have set a 1 year consensus target price of $8.50 for the company and are forecasting that the company will post $0.18 EPS for the current quarter, according to Zacks. Zacks has also assigned Black Diamond an industry rank of 27 out of 265 based on the ratings given to related companies.

Several brokerages recently issued reports on CLAR. Zacks Investment Research lowered shares of Black Diamond from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Stifel Nicolaus upgraded shares of Black Diamond from a “hold” rating to a “buy” rating and increased their price target for the stock from $6.00 to $8.00 in a research note on Wednesday, August 2nd. Finally, Roth Capital set a $7.00 price target on shares of Black Diamond and gave the stock a “hold” rating in a research note on Tuesday, August 8th.

In other news, Director Nicolas Sokolow acquired 5,076 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The shares were bought at an average cost of $7.26 per share, with a total value of $36,851.76. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Aaron Kuehne acquired 5,923 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The shares were purchased at an average cost of $7.21 per share, for a total transaction of $42,704.83. The disclosure for this purchase can be found here. Corporate insiders own 46.80% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the stock. Nationwide Fund Advisors purchased a new stake in Black Diamond during the 3rd quarter valued at about $423,000. Wasatch Advisors Inc. grew its position in Black Diamond by 6.2% during the 2nd quarter. Wasatch Advisors Inc. now owns 127,400 shares of the company’s stock valued at $847,000 after purchasing an additional 7,400 shares during the last quarter. California State Teachers Retirement System purchased a new stake in Black Diamond during the 2nd quarter valued at about $242,000. State Street Corp grew its position in Black Diamond by 1,618.8% during the 2nd quarter. State Street Corp now owns 197,712 shares of the company’s stock valued at $1,316,000 after purchasing an additional 186,209 shares during the last quarter. Finally, Stifel Financial Corp grew its position in Black Diamond by 2.0% during the 2nd quarter. Stifel Financial Corp now owns 20,898 shares of the company’s stock valued at $139,000 after purchasing an additional 400 shares during the last quarter. 49.21% of the stock is currently owned by institutional investors.

Black Diamond (CLAR) opened at $7.70 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.68 and a current ratio of 4.53. Black Diamond has a 12 month low of $5.00 and a 12 month high of $7.95.

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About Black Diamond

Clarus Corporation, formerly 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.

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