Zacks Investment Research Upgrades DMC Global (NASDAQ:BOOM) to “Buy”

DMC Global (NASDAQ:BOOM – Get Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday, Zacks.com reports. The firm presently has a $31.00 target price on the industrial products company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 7.19% from the stock’s current price.

According to Zacks, “DMC Global Inc. is a technology company. Its operating sector consists of industrial infrastructure and oilfield products and services. Industrial infrastructure sector is served by DMC’s NobelClad business is a manufacturer of explosion-welded clad metal plates, which are used to fabricate capital equipment. Oilfield products and services sector is served by DynaEnergetics, is a developer, manufacturer and marketer of advanced explosive components and systems used to perforate oil and gas wells. DMC Global Inc. is based in Boulder, Colorado. “

A number of other equities analysts have also weighed in on BOOM. Sidoti dropped their target price on shares of DMC Global from $55.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, March 4th. StockNews.com lowered shares of DMC Global from a “hold” rating to a “sell” rating in a research report on Monday, May 23rd. Finally, Roth Capital reduced their target price on shares of DMC Global from $50.00 to $35.00 in a research note on Tuesday, May 3rd. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $38.75.

Shares of NASDAQ BOOM traded up $1.25 during midday trading on Wednesday, reaching $28.92. The stock had a trading volume of 87,398 shares, compared to its average volume of 140,269. The stock has a 50-day moving average of $26.26 and a 200-day moving average of $33.67. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.93 and a current ratio of 2.11. The company has a market capitalization of $563.85 million, a price-to-earnings ratio of -39.62, a price-to-earnings-growth ratio of 6.60 and a beta of 1.36. DMC Global has a 12-month low of $18.74 and a 12-month high of $63.50.

DMC Global (NASDAQ:BOOM – Get Rating) last issued its earnings results on Thursday, May 5th. The industrial products company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.20. DMC Global had a negative net margin of 1.14% and a negative return on equity of 0.05%. The firm had revenue of $138.70 million during the quarter, compared to analyst estimates of $129.25 million. During the same quarter in the prior year, the business earned $0.04 earnings per share. DMC Global’s revenue for the quarter was up 149.0% on a year-over-year basis. As a group, analysts forecast that DMC Global will post 0.21 EPS for the current fiscal year.

In related news, Director Richard P. Graff sold 1,000 shares of DMC Global stock in a transaction that occurred on Friday, March 18th. The shares were sold at an average price of $34.58, for a total value of $34,580.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kevin T. Longe sold 5,854 shares of DMC Global stock in a transaction that occurred on Friday, May 13th. The shares were sold at an average price of $21.77, for a total transaction of $127,441.58. Following the sale, the chief executive officer now owns 71,118 shares of the company’s stock, valued at $1,548,238.86. The disclosure for this sale can be found here. Insiders sold a total of 6,876 shares of company stock worth $162,506 over the last 90 days. Company insiders own 1.80% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quent Capital LLC purchased a new stake in DMC Global in the 1st quarter worth $42,000. Cullen Frost Bankers Inc. increased its holdings in DMC Global by 200.3% in the 4th quarter. Cullen Frost Bankers Inc. now owns 1,129 shares of the industrial products company’s stock worth $45,000 after acquiring an additional 753 shares in the last quarter. SG Americas Securities LLC purchased a new stake in DMC Global in the 1st quarter worth $119,000. Orchard Capital Managment LLC purchased a new stake in DMC Global in the 4th quarter worth $202,000. Finally, Quadrature Capital Ltd purchased a new stake in DMC Global in the 3rd quarter worth $205,000. Institutional investors and hedge funds own 96.59% of the company’s stock.

DMC Global Company Profile (Get Rating)

DMC Global Inc provides a suite of technical products for the energy, industrial, and infrastructure markets worldwide. The company operates through three segments: Arcadia, DynaEnergetics, and NobelClad. The Arcadia segment manufactures, assembles, and sells architectural building materials, including storefronts and entrances, windows, curtain walls, and interior partitions; architectural components, architectural framing systems, and sun control products; sliding and glazing systems; and engineered steel, aluminum, and wood door and window systems.

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