Black Box Corporation (BBOX) Trading Down 45.6% Following Weak Earnings

Judith Bessette
Agosto 13, 2017

The company is down since yesterday's close of $7.45. Trexquant Investment LP acquired a new position in Black Box Corporation during the first quarter worth approximately $180,000. The company traded as low as $7.45 and last traded at $7.45, with a volume of 35,163 shares changing hands.

As of the end of the quarter Bragg Financial Advisors, Inc had disposed of a total of 2,200 shares trimming its stake by 15.5%. Finally, Wells Fargo & Company MN increased its stake in Black Box Corporation by 41.3% in the first quarter. State of Tennessee Treasury Department now owns 14,595 shares of the technology company's stock worth $131,000 after buying an additional 2,203 shares during the period. As of quarter end Goldman Sachs Group Inc had bought a total of 810 shares growing its holdings by 0.8%. Comerica Bank boosted its stake in Black Box Corporation by 5.7% in the fourth quarter. Comerica Bank now owns 16,461 shares of the technology company's stock worth $167,000 after buying an additional 450 shares during the period. Moreover, Ascend Capital Llc has 0.13% invested in the company for 1.83 million shares.

Black Box has 52 week low of $4.12 and a 52 week high of $17.05 and has a market capitalization of $0. The firm's market cap is $63.97 million. The company's 50 day moving average price is $8.06 and its 200 day moving average price is $8.99.

Black Box Corporation (NASDAQ:BBOX) last announced its quarterly earnings results on Thursday, August 10th. The technology company reported $0.07 EPS for the quarter, topping the Thomson Reuters' consensus estimate of $0.06 by $0.01. It dropped, as 8 investors sold Black Box Corporation shares while 34 reduced holdings. The company had revenue of $191.60 million during the quarter, compared to analysts' expectations of $207.63 million. During the same quarter previous year, the business posted $0.13 earnings per share. The firm's revenue was down 7.1% compared to the same quarter past year. Equities analysts expect that Black Box Corporation will post $0.23 EPS for the current year.

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Separately, Sidoti raised Black Box Corporation from a "neutral" rating to a "buy" rating and set a $10.00 price objective on the stock in a research note on Tuesday, June 27th.

Black Box Corporation, launched on June 9, 1987, is a technology solutions provider. The Firm is engaged in designing, building, managing and securing the information technology infrastructure. Offerings under the Company's Products platform include IT infrastructure, specialty networking, multimedia and keyboard/video/mouse (KVM) switching.

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