Black Diamond (BDI), the Services sector company was revisited today, and remains overvalued for at least one analyst on the street. The company received a Sell rating from CIBC’s analyst Jon Morrison, with a C$2.50 price target.
According to TipRanks.com, Morrison is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -15.4% and a 33.3% success rate. Morrison covers the Basic Materials sector, focusing on stocks such as Trican Well Service Ltd, Imperial Oil Limited, and Cenovus Energy Inc.
Currently, the analyst consensus on Black Diamond is a Hold with an average price target of C$3.81.
Based on Black Diamond’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of C$4.75 million. In comparison, last year the company had a GAAP net loss of C$3.33 million.
Black Diamond Group Ltd. engages in renting and selling space rental and modular workforce accommodation. It operates through the following business segments: BOXX Modular; Camps & Lodging; Energy Services; International; and Corporate and Other.
The company’s shares closed on Thursday at C$2.59.