Black Diamond Group (TSE:BDI) Stock Gets Price Target Increase from Acumen Capital

Key Points

• Acumen Capital raised Black Diamond Group’s price target from C$21.75 to C$25.50 while maintaining a “buy” rating, implying 16.81% potential upside.
• Black Diamond shares rose 3.4% to C$21.83, near the company’s 52-week high of C$23.14. The company reported quarterly earnings of C$0.19 per share on revenue of C$159.88 million.
• Insiders sold shares totaling 549,400 shares worth approximately C$11.4 million over the past 90 days; insiders continue to own 23.83% of the company.

Black Diamond Group (TSE:BDI - Get Free Report) had its price target increased by stock analysts at Acumen Capital from C$21.75 to C$25.50 in a research note issued on Monday, BayStreet reports. The brokerage currently has a "buy" rating on the stock. Acumen Capital's price target indicates a potential upside of 16.81% from the stock's current price.

Black Diamond Group Trading Up 3.4%

Shares of Black Diamond Group stock traded up C$0.72 on Monday, reaching C$21.83. The company had a trading volume of 278,762 shares, compared to its average volume of 197,518. The firm has a market cap of C$1.48 billion, a price-to-earnings ratio of 62.37 and a beta of 1.13. The company has a debt-to-equity ratio of 97.94, a current ratio of 1.53 and a quick ratio of 1.05. The firm's 50-day moving average price is C$18.74 and its two-hundred day moving average price is C$17.85. Black Diamond Group has a 1 year low of C$13.47 and a 1 year high of C$23.14.

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

Insider Buying and Selling

In related news, insider Kernwood Limited sold 259,700 shares of the 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 sale, the insider directly owned 6,242,200 shares of the company's stock, valued at C$129,588,072. This represents a 3.99% decrease in their position. Also, Director Elizabeth Kernaghan sold 259,700 shares of the stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of C$20.76, for a total transaction of C$5,391,372.00. Following the completion of the sale, the director directly owned 6,242,200 shares in the company, valued at C$129,588,072. This trade represents a 3.99% decrease in their ownership of the stock. In the last ninety days, insiders sold 549,400 shares of company stock valued at $11,392,910. Company insiders own 23.83% of the company's stock.

Black Diamond Group Company Profile

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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