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UPDATE: Stifel Downgrades Black Diamond As No Catalyst Is In Sight

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In a report published Tuesday, Stifel analyst Jim Duffy downgraded the rating on Black Diamond Inc (NASDAQ: BDE) from Buy to Hold, and removed the $13.00 price target.

In the report, Stifel noted, “BDE currently trades at approximately 1.0X FY16E TEV/revenue but approximately 23X FY16E TEV/EBITDA. While we remain optimistic about brand value/potential and opportunities financial metric improvement from the strategic pivot (strengthened capital structure with divestiture of Gregory, SKU rationalization, evolving DTC strategy), given external challenges, the slow-to-build apparel momentum, and transition efforts in 2015, we believe shares lack a catalyst and are appropriately valued until visibility to revenue acceleration and margin expansion improves.”

Black Diamond closed on Monday at $8.26.

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

 

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Posted-In: Jim Duffy StifelAnalyst Color Downgrades Analyst Ratings

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