Market Overview

UPDATE: Needham & Company Downgrades Black Diamond Following Preliminary 4Q Results

Share:

In a report published Wednesday, Needham & Company analyst Sean McGowan downgraded the rating on Black Diamond (NASDAQ: BDE) from Strong Buy to Buy, and lowered the price target from $18.00 to $15.00.

In the report, Needham & Company noted, “BDE reported preliminary 4Q revenue results that were below our estimates and Street expectations. Guidance for 2014 also came in well below our expectations, with management calling for growth of 16-18% YoY. The company had previously hinted that apparel sell-through at ‘large' retailers was weak but announced that, overall, the apparel launch met internal expectations. Finally, the announcement that BDE is exploring strategic options for Gregory is not unexpected as the company plans to focus on higher growth categories going forward and will likely use any capital for further investment in apparel and POC.”

Black Diamond closed on Tuesday at $10.24.

Latest Ratings for BDE

DateFirmActionFromTo
Aug 2017Stifel NicolausUpgradesHoldBuy
Mar 2017Stifel NicolausDowngradesBuyHold
Aug 2016DA DavidsonUpgradesNeutralBuy

View More Analyst Ratings for BDE
View the Latest Analyst Ratings

 

Related Articles (BDE)

View Comments and Join the Discussion!

Posted-In: Needham & Company Sean McGowanAnalyst Color Downgrades Analyst Ratings

Latest Ratings

StockFirmActionPT
TEAMTruist SecuritiesDowngrades185.0
PXLWLake StreetDowngrades2.5
CCRNTruist SecuritiesUpgrades10.0
CSXRBC CapitalUpgrades89.0
GRMNB of A SecuritiesUpgrades120.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com