Analysts predict that Black Diamond, Inc. (NASDAQ:CLAR) will report $49.33 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Black Diamond’s earnings, with estimates ranging from $49.10 million to $49.68 million. Black Diamond reported sales of $41.40 million in the same quarter last year, which indicates a positive year over year growth rate of 19.2%. The business is expected to announce its next quarterly earnings results on Monday, March 5th.
According to Zacks, analysts expect that Black Diamond will report full-year sales of $49.33 million for the current fiscal year, with estimates ranging from $167.20 million to $167.69 million. For the next year, analysts forecast that the company will post sales of $199.08 million per share, with estimates ranging from $196.95 million to $200.30 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Black Diamond.
A number of brokerages have recently commented on CLAR. Zacks Investment Research raised shares of Black Diamond from a “hold” rating to a “buy” rating and set a $8.25 target price for the company in a report on Friday, October 20th. Stifel Nicolaus upped their target price on shares of Black Diamond from $8.00 to $9.00 and gave the company a “buy” rating in a report on Tuesday, November 7th. Finally, Roth Capital set a $7.00 target price on shares of Black Diamond and gave the company a “hold” rating in a report on Wednesday, August 23rd.
In other news, Director Nicolas Sokolow purchased 15,800 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was purchased at an average cost of $6.44 per share, with a total value of $101,752.00. Following the completion of the acquisition, the director now directly owns 65,000 shares of the company’s stock, valued at approximately $418,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Aaron Kuehne purchased 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, with a total value of $42,704.83. The disclosure for this purchase can be found here. Insiders have purchased 66,348 shares of company stock valued at $447,361 over the last three months. 33.60% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Stifel Financial Corp raised its holdings in Black Diamond by 2.0% during the second quarter. Stifel Financial Corp now owns 20,898 shares of the company’s stock worth $139,000 after purchasing an additional 400 shares in the last quarter. Marquette Asset Management Inc. raised its holdings in Black Diamond by 9.5% during the second quarter. Marquette Asset Management Inc. now owns 25,124 shares of the company’s stock worth $167,000 after purchasing an additional 2,176 shares in the last quarter. Wasatch Advisors Inc. grew its position in Black Diamond by 6.2% during the second quarter. Wasatch Advisors Inc. now owns 127,400 shares of the company’s stock worth $847,000 after buying an additional 7,400 shares during the period. Nationwide Fund Advisors grew its position in Black Diamond by 34.5% during the second quarter. Nationwide Fund Advisors now owns 43,594 shares of the company’s stock worth $290,000 after buying an additional 11,184 shares during the period. Finally, California Public Employees Retirement System acquired a new position in Black Diamond during the first quarter worth about $105,000. 47.96% of the stock is owned by hedge funds and other institutional investors.
Shares of Black Diamond (NASDAQ:CLAR) opened at $7.30 on Wednesday. Black Diamond has a 1-year low of $5.00 and a 1-year high of $7.95. The company has a current ratio of 4.53, a quick ratio of 1.68 and a debt-to-equity ratio of 0.18.
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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