Black Diamond Group (TSE:BDI) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Shares of Black Diamond Group Limited (TSE:BDI) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$12.66 and traded as high as C$15.06. Black Diamond Group shares last traded at C$14.94, with a volume of 21,266 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BDI. Canaccord Genuity Group boosted their target price on Black Diamond Group from C$13.50 to C$17.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Acumen Capital increased their price target on Black Diamond Group from C$14.50 to C$17.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Finally, BMO Capital Markets raised their target price on Black Diamond Group from C$15.00 to C$17.00 in a report on Tuesday, September 23rd. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of C$17.00.

Black Diamond Group Stock Performance

The company has a market cap of C$1.01 billion, a P/E ratio of 25.76 and a beta of 0.71. The company has a quick ratio of 1.05, a current ratio of 1.17 and a debt-to-equity ratio of 88.46. The company has a 50 day moving average price of C$14.27 and a 200-day moving average price of C$12.66.

Black Diamond Group (TSE:BDI) last posted its quarterly earnings data on Thursday, October 30th. The company reported C$0.18 earnings per share for the quarter. The business had revenue of C$105.32 million during the quarter. Black Diamond Group had a net margin of 6.46% and a return on equity of 8.11%. Equities analysts expect that Black Diamond Group Limited will post 0.5349233 EPS for the current fiscal year.

Insider Activity at Black Diamond Group

In related news, Director Robert Wagemakers sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of C$14.10, for a total transaction of C$282,000.00. Following the transaction, the director owned 543,580 shares in the company, valued at C$7,664,478. This trade represents a 3.55% decrease in their ownership of the stock. 23.83% of the stock is owned by corporate insiders.

Black Diamond Group Company Profile

Black Diamond Group Ltd rents and sells space rental solutions and modular workforce accommodations to business customers in Canada, the United States and Australia. The company also provides specialized field rentals to the oil and gas industries of Canada and the United States. Besides, Black Diamond Group provides turnkey lodging services, as well as a host of related services that include transportation, installation, dismantling, repairs, maintenance, and ancillary field equipment rentals. From its locations, the company serves multiple sectors including oil and gas, mining, power, construction, engineering, military, government, and education.