Black Box Corporation (NASDAQ:BBOX) was downgraded by Sidoti from a “buy” rating to a “neutral” rating in a research note issued on Friday.

Black Box Corporation (BBOX) traded down 43.62% during midday trading on Friday, hitting $4.20. The company had a trading volume of 231,259 shares. The firm’s market cap is $62.85 million. The stock has a 50 day moving average of $8.06 and a 200 day moving average of $8.99. Black Box Corporation has a 52-week low of $4.20 and a 52-week high of $17.05.

Black Box Corporation (NASDAQ:BBOX) last issued its earnings results on Thursday, August 10th. The technology company reported ($0.33) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.01 by $0.34. Black Box Corporation had a negative net margin of 0.83% and a positive return on equity of 7.74%. The firm had revenue of $191.60 million during the quarter, compared to analyst estimates of $207.63 million. During the same quarter in the previous year, the business posted $0.13 EPS. Black Box Corporation’s revenue was down 12.3% compared to the same quarter last year. On average, analysts anticipate that Black Box Corporation will post $0.23 EPS for the current year.

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A number of hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its position in shares of Black Box Corporation by 12.4% in the first quarter. JPMorgan Chase & Co. now owns 914,520 shares of the technology company’s stock worth $8,185,000 after buying an additional 100,918 shares during the last quarter. Martingale Asset Management L P boosted its position in shares of Black Box Corporation by 128.3% in the first quarter. Martingale Asset Management L P now owns 61,417 shares of the technology company’s stock worth $550,000 after buying an additional 34,517 shares during the last quarter. Trexquant Investment LP purchased a new position in shares of Black Box Corporation during the first quarter worth $180,000. State of Tennessee Treasury Department boosted its position in shares of Black Box Corporation by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 14,595 shares of the technology company’s stock worth $131,000 after buying an additional 2,203 shares during the last quarter. Finally, Comerica Bank boosted its position in shares of Black Box Corporation by 2.8% in the first quarter. Comerica Bank now owns 16,461 shares of the technology company’s stock worth $167,000 after buying an additional 450 shares during the last quarter. Hedge funds and other institutional investors own 93.45% of the company’s stock.

Black Box Corporation Company Profile

Black Box Corporation is a technology solutions provider. The Company is engaged in designing, building, managing and securing the information technology (IT) infrastructure. Offerings under the Company’s Products platform include IT infrastructure, specialty networking, multimedia and keyboard/video/mouse (KVM) switching.

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