DMC Global (NASDAQ:BOOM) Stock Moved Up to Strong-Buy by Wall Street Zen

Key Points

• Wall Street Zen upgraded DMC Global from “buy” to “strong-buy,” while Zacks Research also issued a “strong-buy” upgrade. Overall analyst sentiment is “Moderate Buy,” with an average price target of $9.00, though ratings remain mixed.
• DMC Global reported quarterly EPS of $0.48, beating the $0.11 consensus estimate, while revenue of $172.83 million exceeded forecasts of $161.10 million.
• Shares opened at $9.35, near their 52-week high of $9.47, after rising well above their 50-day and 200-day moving averages. Institutional investors own approximately 77.63% of the company’s stock.

DMC Global (NASDAQ:BOOM - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other analysts also recently weighed in on the stock. Zacks Research upgraded shares of DMC Global from a "hold" rating to a "strong-buy" rating in a research report on Wednesday. Weiss Ratings restated a "sell (d-)" rating on shares of DMC Global in a report on Wednesday, August 19th. Finally, Stifel Nicolaus increased their target price on shares of DMC Global from $7.00 to $8.00 and gave the company a "hold" rating in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $9.00.

DMC Global Price Performance

Shares of NASDAQ BOOM opened at $9.35 on Friday. The stock's 50-day simple moving average is $6.22 and its 200-day simple moving average is $6.57. The firm has a market capitalization of $192.06 million, a PE ratio of -38.96 and a beta of 1.80. DMC Global has a fifty-two week low of $4.69 and a fifty-two week high of $9.47. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.19 and a current ratio of 2.56.

DMC Global (NASDAQ:BOOM - Get Free Report) last announced its quarterly earnings results on Tuesday, October 27th. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.11 by $0.37. The firm had revenue of $172.83 million during the quarter, compared to the consensus estimate of $161.10 million. DMC Global had a negative return on equity of 2.13% and a negative net margin of 1.15%. As a group, equities research analysts forecast that DMC Global will post 0.35 EPS for the current fiscal year.

Institutional Trading of DMC Global

Institutional investors and hedge funds have recently made changes to their positions in the company. Lakewood Asset Management LLC boosted its holdings in shares of DMC Global by 10.0% in the third quarter. Lakewood Asset Management LLC now owns 26,688 shares of the industrial products company's stock valued at $149,000 after acquiring an additional 2,432 shares during the period. Squarepoint Ops LLC purchased a new position in shares of DMC Global during the second quarter worth approximately $296,000. AXQ Capital LP purchased a new position in shares of DMC Global during the second quarter worth approximately $101,000. Susquehanna International Group LLP increased its holdings in shares of DMC Global by 63.6% in the 2nd quarter. Susquehanna International Group LLP now owns 50,341 shares of the industrial products company's stock valued at $292,000 after acquiring an additional 19,566 shares during the period. Finally, Hsbc Holdings PLC acquired a new position in shares of DMC Global in the 2nd quarter valued at $213,000. 77.63% of the stock is owned by hedge funds and other institutional investors.

DMC Global Company Profile

DMC Global Inc NASDAQ: BOOM is a diversified industrial company that develops and manufactures engineered products for energy, industrial, infrastructure and building markets. The company's operations have included businesses focused on specialty metalworking and architectural building products.

Through its DMC Clad Solutions business, DMC Global supplies explosion-welded clad metals under the NobelClad brand. These products bond dissimilar metals to create corrosion-resistant and structurally capable materials used in chemical processing, oil and gas, power generation, marine, transportation and other industrial applications.

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