Black Diamond Group (TSE:BDI) Hits New 52-Week High – Time to Buy?

Black Diamond Group Limited (TSE:BDI)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as C$17.00 and last traded at C$16.95, with a volume of 43579 shares trading hands. The stock had previously closed at C$16.50.

Analysts Set New Price Targets

BDI has been the subject of several research reports. BMO Capital Markets raised their price target on shares of Black Diamond Group from C$18.00 to C$20.00 in a research note on Friday, January 16th. Raymond James Financial cut shares of Black Diamond Group from a “strong-buy” rating to a “moderate buy” rating and increased their target price for the stock from C$18.00 to C$20.00 in a report on Tuesday, January 20th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Black Diamond Group has a consensus rating of “Buy” and an average price target of C$18.50.

Black Diamond Group Price Performance

The stock has a market capitalization of C$1.14 billion, a P/E ratio of 29.22 and a beta of 0.96. The company has a debt-to-equity ratio of 88.46, a current ratio of 1.17 and a quick ratio of 1.05. The company’s 50-day simple moving average is C$15.61 and its 200-day simple moving average is C$14.08.

Insider Transactions at Black Diamond Group

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

About Black Diamond Group

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.