Black Diamond, Inc. (NASDAQ:CLAR) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report released on Friday. The firm presently has a $8.25 price target on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 12.24% from the stock’s previous close.
According to Zacks, “Clarus Corporation engages in design, manufacture and marketing of outdoor equipment and apparel for climbing, mountaineering, backpacking, skiing and other outdoor recreation activities. Its brands include Black Diamond and PIEPS. Black Diamond Equipment is a manufacturer of active outdoor equipment and clothing for the climbing, skiing and mountain sports markets. PIEPS is a designer and marketer of avalanche beacons and snow safety products. Clarus Corporation, formerly known as Black Diamond Inc., is headquartered in Salt Lake City, UT. “
Several other research analysts have also commented on CLAR. Stifel Nicolaus boosted their price target on Black Diamond from $8.00 to $9.00 and gave the stock a “buy” rating in a research report on Tuesday, November 7th. Roth Capital set a $7.00 target price on Black Diamond and gave the company a “hold” rating in a research report on Wednesday, August 23rd.
Shares of Black Diamond (CLAR) traded up $0.25 during midday trading on Friday, reaching $7.35. The company’s stock had a trading volume of 54,300 shares, compared to its average volume of 90,887. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.53 and a quick ratio of 1.68. Black Diamond has a 1-year low of $5.00 and a 1-year high of $7.95.
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In other news, Director Nicolas Sokolow purchased 19,625 shares of the company’s stock in a transaction on Thursday, August 24th. The shares were acquired at an average price of $6.39 per share, for a total transaction of $125,403.75. Following the purchase, the director now owns 65,000 shares in the company, valued at $415,350. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have purchased a total of 60,425 shares of company stock worth $404,656 over the last ninety days. 33.60% of the stock is currently owned by corporate insiders.
A hedge fund recently bought a new stake in Black Diamond stock. Nationwide Fund Advisors purchased a new stake in shares of Black Diamond, Inc. (NASDAQ:CLAR) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 56,382 shares of the company’s stock, valued at approximately $423,000. Nationwide Fund Advisors owned about 0.19% of Black Diamond as of its most recent filing with the SEC. 47.96% of the stock is owned by hedge funds and other institutional investors.
Black Diamond Company Profile
Clarus Corporation, formerly Black Diamond, Inc, through its ownership of Black Diamond Equipment, Ltd., is engaged in designing, manufacturing and marketing of active outdoor performance equipment and apparel for climbing, mountaineering, backpacking, skiing and a range of other year-round outdoor recreation activities.
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