Acumen Capital Forecasts Strong Price Appreciation for Black Diamond Group (TSE:BDI) Stock

Black Diamond Group (TSE:BDI) had its target price increased by research analysts at Acumen Capital from C$21.75 to C$25.50 in a report issued on Monday, BayStreet reports. The brokerage currently has a “buy” rating on the stock. Acumen Capital‘s price objective points to a potential upside of 16.81% from the company’s current price.

Black Diamond Group Stock Up 3.4%

Shares of Black Diamond Group stock traded up C$0.72 during trading on Monday, hitting C$21.83. 278,762 shares of the stock traded hands, compared to its average volume of 197,518. The company has a current ratio of 1.53, a quick ratio of 1.05 and a debt-to-equity ratio of 97.94. The stock’s fifty day simple moving average is C$18.74 and its 200 day simple moving average is C$17.85. The firm has a market cap of C$1.48 billion, a P/E ratio of 62.37 and a beta of 1.13. Black Diamond Group has a 52-week low of C$13.47 and a 52-week high of C$23.14.

Black Diamond Group (TSE:BDI) last issued its quarterly earnings data on Thursday, October 29th. The company reported C$0.19 earnings per share (EPS) for the quarter. The company 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%. On average, equities analysts predict that Black Diamond Group will post 0.53 earnings per share for the current fiscal year.

Insider Transactions at Black Diamond Group

In related news, insider Kernwood Limited sold 259,700 shares of the company’s stock in a transaction on 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 insider directly owned 6,242,200 shares in the company, 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 firm’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 sale, the director directly owned 6,242,200 shares in the company, valued at approximately C$129,588,072. The trade was a 3.99% decrease in their position. In the last three months, insiders sold 549,400 shares of company stock valued at $11,392,910. Corporate 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.