Canaccord Genuity Group Raises Black Diamond Group (TSE:BDI) Price Target to C$7.00

Black Diamond Group (TSE:BDI – Get Rating) had its target price upped by equities research analysts at Canaccord Genuity Group from C$6.00 to C$7.00 in a report released on Monday, BayStreet.CA reports. Canaccord Genuity Group’s price objective points to a potential upside of 43.15% from the company’s previous close.

A number of other research analysts have also recently issued reports on the company. Cormark lifted their price objective on Black Diamond Group from C$7.00 to C$8.00 and gave the company an “outperform” rating in a research note on Monday, March 7th. Raymond James set a C$7.00 price target on Black Diamond Group and gave the stock an “outperform” rating in a research note on Monday, March 7th. Finally, BMO Capital Markets reiterated a “buy” rating and set a C$6.50 price objective on shares of Black Diamond Group in a research report on Monday.

Shares of BDI stock traded up C$0.21 on Monday, hitting C$4.89. 62,195 shares of the stock were exchanged, compared to its average volume of 104,100. Black Diamond Group has a one year low of C$3.15 and a one year high of C$5.65. The firm’s 50 day moving average is C$4.61 and its two-hundred day moving average is C$4.46. The company has a current ratio of 1.15, a quick ratio of 0.95 and a debt-to-equity ratio of 72.81. The firm has a market capitalization of C$290.30 million and a PE ratio of 14.38.

Black Diamond Group (TSE:BDI – Get Rating) last announced its quarterly earnings results on Thursday, March 3rd. The company reported C$0.18 EPS for the quarter, topping the Zacks’ consensus estimate of C$0.05 by C$0.13. The company had revenue of C$96.10 million during the quarter, compared to analysts’ expectations of C$68.90 million. On average, sell-side analysts expect that Black Diamond Group will post 0.37 earnings per share for the current year.

In other news, Senior Officer Tobias Gerald Labrie sold 8,200 shares of the firm’s stock in a transaction on Friday, March 11th. The stock was sold at an average price of C$4.60, for a total value of C$37,720.00. Following the completion of the sale, the insider now owns 161,415 shares of the company’s stock, valued at approximately C$742,509. Also, Senior Officer Patrick Melanson sold 20,108 shares of the firm’s stock in a transaction on Monday, March 14th. The stock was sold at an average price of C$4.50, for a total value of C$90,486.00. Following the completion of the sale, the insider now directly owns 121,262 shares of the company’s stock, valued at approximately C$545,679. Over the last quarter, insiders sold 48,416 shares of company stock worth $215,380.

Black Diamond Group Company Profile (Get Rating)

Black Diamond Group Limited rents and sells modular space and workforce accommodation solutions. It operates through two segments, Modular Space Solutions and Workforce Solutions. The Modular Space Solutions segment provides modular space rentals to customers in the construction, real estate development, manufacturing, education, financial, and resource industries, as well as government agencies in North America.

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