DMC Global (NASDAQ:BOOM) Stock Moved Up to Strong-Buy by Zacks Research

Key Points

• Zacks Research upgraded DMC Global from “hold” to “strong buy,” while analyst opinions remain mixed; MarketBeat’s consensus rating is “Moderate Buy” with an average price target of $9.00.
• DMC Global exceeded quarterly expectations, reporting $0.48 in EPS versus the $0.11 consensus estimate and revenue of $172.83 million versus $161.10 million expected.
• The stock opened at $8.48, compared with a 52-week range of $4.69 to $9.20, and institutional investors own approximately 77.63% of outstanding shares.

DMC Global (NASDAQ:BOOM - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Wednesday, Zacks reports.

Other equities analysts have also issued research reports about the company. Weiss Ratings restated a "sell (d-)" rating on shares of DMC Global in a research note on Wednesday, August 19th. Stifel Nicolaus boosted their price target on DMC Global from $7.00 to $8.00 and gave the company a "hold" rating in a research note on Monday, August 3rd. Finally, Wall Street Zen raised DMC Global from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. 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 stock. According to data from MarketBeat, DMC Global has a consensus rating of "Moderate Buy" and an average price target of $9.00.

DMC Global Stock Performance

Shares of DMC Global stock opened at $8.48 on Wednesday. The firm has a market capitalization of $174.18 million, a P/E ratio of -35.33 and a beta of 1.80. The company has a quick ratio of 1.19, a current ratio of 2.56 and a debt-to-equity ratio of 0.19. The company has a 50 day moving average price of $6.17 and a 200 day moving average price of $6.56. DMC Global has a 52 week low of $4.69 and a 52 week high of $9.20.

DMC Global (NASDAQ:BOOM - Get Free Report) last posted its quarterly earnings data on Tuesday, October 27th. The industrial products company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.11 by $0.37. The business had revenue of $172.83 million during the quarter, compared to the consensus estimate of $161.10 million. DMC Global had a negative net margin of 1.15% and a negative return on equity of 2.13%. Sell-side analysts expect that DMC Global will post -0.02 EPS for the current year.

Institutional Trading of DMC Global

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in shares of DMC Global during the 2nd quarter valued at about $2,875,000. Hunter Associates Investment Management LLC boosted its stake in shares of DMC Global by 12.2% in the first quarter. Hunter Associates Investment Management LLC now owns 332,985 shares of the industrial products company's stock worth $1,737,000 after buying an additional 36,075 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of DMC Global in the second quarter worth about $691,000. Strs Ohio boosted its stake in shares of DMC Global by 20.6% in the first quarter. Strs Ohio now owns 105,800 shares of the industrial products company's stock worth $551,000 after buying an additional 18,100 shares during the last quarter. Finally, Quantinno Capital Management LP grew its holdings in DMC Global by 14.8% during the first quarter. Quantinno Capital Management LP now owns 90,540 shares of the industrial products company's stock worth $472,000 after acquiring an additional 11,669 shares during the period. Institutional investors and hedge funds own 77.63% of the company's stock.

About DMC Global

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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