Needham & Company Downgrades Black Diamond (BDE) to Hold

Needham & Company downgraded Black Diamond (NASDAQ: BDE) from Buy to Hold.

Analyst Sean McGowan commented, " BDE reported 4Q results below our estimates, but in line with guidance and consensus. Its guidance for 2015 implies considerably slower growth than the company had previously projected, and lower gross margins than we expected. More importantly, the company said it had retained advisors to explore strategic alternatives in order to unlock shareholder value, some of which lies in the company's large NOL. We believe the potential that BDE's brands could be sold (and the NOL value unlocked) could offset the negative effect of what is clearly a slowing growth rate. But we believe the current stock price captures the potential upside, when discounted for uncertainty, so we are reducing our rating to Hold."

For an analyst ratings summary and ratings history on Black Diamond click here. For more ratings news on Black Diamond click here.

Shares of Black Diamond closed at $7.05 yesterday.

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