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

DMC Global (NASDAQ:BOOM) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Wednesday, Zacks reports.

A number of other research analysts also recently weighed in on BOOM. Stifel Nicolaus upped their price objective on shares of DMC Global from $7.00 to $8.00 and gave the stock a “hold” rating in a research report on Monday, August 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of DMC Global in a research note on Wednesday, August 19th. Finally, Wall Street Zen upgraded DMC Global from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued 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 a consensus target price of $9.00.

DMC Global Price Performance

NASDAQ:BOOM opened at $8.48 on Wednesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.56 and a quick ratio of 1.19. 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 1-year low of $4.69 and a 1-year high of $9.20. The firm has a market cap of $174.18 million, a price-to-earnings ratio of -35.33 and a beta of 1.80.

DMC Global (NASDAQ:BOOM) last announced its quarterly earnings results on Tuesday, October 27th. The industrial products company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.37. DMC Global had a negative net margin of 1.15% and a negative return on equity of 2.13%. The firm had revenue of $172.83 million for the quarter, compared to the consensus estimate of $161.10 million. Equities research analysts forecast that DMC Global will post -0.02 EPS for the current year.

Institutional Inflows and Outflows

Several large 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 approximately $2,875,000. Hunter Associates Investment Management LLC grew its stake in DMC Global by 12.2% in the 1st quarter. Hunter Associates Investment Management LLC now owns 332,985 shares of the industrial products company’s stock valued at $1,737,000 after acquiring an additional 36,075 shares during the period. Empowered Funds LLC acquired a new stake in DMC Global in the 2nd quarter valued at $691,000. Strs Ohio increased its holdings in DMC Global by 20.6% in the 1st quarter. Strs Ohio now owns 105,800 shares of the industrial products company’s stock worth $551,000 after acquiring an additional 18,100 shares in the last quarter. Finally, Bank of America Corp DE purchased a new stake in DMC Global in the 2nd quarter worth $474,000. 77.63% of the stock is owned by institutional investors and hedge funds.

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.