Black Diamond Group (TSE:BDI) Price Target Raised to C$25.00

Key Points

• Raymond James raised Black Diamond Group’s price target to C$25.00 from C$23.00 while maintaining an “outperform” rating, implying 14.52% potential upside. Acumen Capital also increased its target to C$25.50 and assigned a “buy” rating.
• The stock rose C$0.72 to C$21.83, near its 12-month high of C$23.14. Analysts collectively rate the company “Buy,” with an average target price of C$22.62.
• Black Diamond reported quarterly earnings of C$0.19 per share on revenue of C$159.88 million. Recent insider activity was mixed, with directors selling 549,400 shares over 90 days while another director purchased 2,000 shares.

Black Diamond Group (TSE:BDI - Get Free Report) had its price objective raised by research analysts at Raymond James Financial from C$23.00 to C$25.00 in a report issued on Monday, BayStreet reports. The firm presently has an "outperform" rating on the stock. Raymond James Financial's price objective suggests a potential upside of 14.52% from the company's current price.

Separately, Acumen Capital raised their price objective on Black Diamond Group from C$21.75 to C$25.50 and gave the company a "buy" rating in a report on Monday. Three research analysts have rated the stock with a Buy rating. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of C$22.62.

Black Diamond Group Price Performance

BDI stock traded up C$0.72 during trading on Monday, reaching C$21.83. 278,762 shares of the company were exchanged, compared to its average volume of 197,518. The company has a 50-day moving average of C$18.74 and a two-hundred day moving average of C$17.85. The company has a market capitalization of C$1.48 billion, a price-to-earnings ratio of 62.37 and a beta of 1.13. Black Diamond Group has a twelve month low of C$13.47 and a twelve month high of C$23.14. The company has a debt-to-equity ratio of 97.94, a current ratio of 1.53 and a quick ratio of 1.05.

Black Diamond Group (TSE:BDI - Get Free Report) last issued its earnings results on Thursday, October 29th. The company reported C$0.19 earnings per share for the quarter. The firm had revenue of C$159.88 million for the quarter. Black Diamond Group had a net margin of 3.95% and a return on equity of 5.45%. As a group, equities analysts predict that Black Diamond Group will post 0.53 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Elizabeth Kernaghan sold 259,700 shares of the business's stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of C$20.76, for a total value of C$5,391,372.00. Following the transaction, the director directly owned 6,242,200 shares of the company's stock, valued at approximately C$129,588,072. The trade was a 3.99% decrease in their position. Also, Director Daryle Jonathan William Warren acquired 2,000 shares of the stock in a transaction on Thursday, August 6th. The stock was bought at an average cost of C$18.06 per share, for a total transaction of C$36,120.00. Following the transaction, the director owned 365,928 shares of the company's stock, valued at approximately C$6,608,659.68. This trade represents a 0.55% increase in their position. Insiders sold a total of 549,400 shares of company stock valued at $11,392,910 in the last ninety days. 23.83% of the stock is currently owned by insiders.

About Black Diamond Group

Black Diamond is an industrial services and asset management company with two operating business units - Modular Space Solutions (MSS) and Workforce Solutions (WFS). Black Diamond operates in Canada, the United States and Australia. MSS, through its principal brands - BOXX Modular, CLM and Schiavi - owns a large rental fleet of modular buildings of various types and sizes. Its network of local branches rent, sell, service and provide ancillary products and services to a diverse customer base in the construction, industrial, education, financial, and government sectors.

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