DMC Global (NASDAQ:BOOM) Price Target Raised to $8.00

DMC Global (NASDAQ:BOOM) had its price objective hoisted by Stifel Nicolaus from $7.00 to $8.00 in a report published on Monday morning, Marketbeat Ratings reports. They currently have a hold rating on the industrial products company’s stock.

BOOM has been the subject of a number of other reports. Zacks Research upgraded DMC Global from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. Wall Street Zen raised shares of DMC Global from a “sell” rating to a “hold” rating in a report on Sunday, May 3rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of DMC Global in a report on Friday, May 22nd. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, DMC Global has an average rating of “Hold” and an average target price of $9.00.

DMC Global Price Performance

BOOM opened at $7.28 on Monday. The company has a quick ratio of 1.19, a current ratio of 2.56 and a debt-to-equity ratio of 0.23. The company’s 50-day moving average price is $6.52 and its 200 day moving average price is $6.61. DMC Global has a fifty-two week low of $4.69 and a fifty-two week high of $9.20. The firm has a market cap of $149.53 million, a price-to-earnings ratio of -7.83 and a beta of 1.74.

DMC Global (NASDAQ:BOOM) last issued its earnings results on Wednesday, July 29th. The industrial products company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.19. The company had revenue of $156.95 million during the quarter, compared to the consensus estimate of $148.97 million. DMC Global had a negative return on equity of 6.84% and a negative net margin of 3.37%. As a group, sell-side analysts expect that DMC Global will post -0.18 earnings per share for the current year.

Hedge Funds Weigh In On DMC Global

Large investors have recently bought and sold shares of the stock. Steel Partners Holdings L.P. acquired a new position in shares of DMC Global during the fourth quarter valued at approximately $13,200,000. Gendell Jeffrey L acquired a new position in shares of DMC Global during the 4th quarter valued at $6,036,000. Federated Hermes Inc. increased its position in shares of DMC Global by 159.3% during the 2nd quarter. Federated Hermes Inc. now owns 603,614 shares of the industrial products company’s stock valued at $4,865,000 after purchasing an additional 370,833 shares during the period. Mackenzie Financial Corp bought a new stake in shares of DMC Global in the 4th quarter worth $1,953,000. Finally, Bridgeway Capital Management LLC lifted its holdings in shares of DMC Global by 55.8% in the third quarter. Bridgeway Capital Management LLC now owns 319,238 shares of the industrial products company’s stock valued at $2,698,000 after buying an additional 114,320 shares during the period. Institutional investors and hedge funds own 77.63% of the company’s stock.

DMC Global Company Profile

DMC Global Inc (NASDAQ: BOOM) is a diversified industrial company headquartered in Houston, Texas. It operates through two core business segments—EVI and MECO—that deliver engineered products and services primarily to the mining, oil and gas, and water treatment markets. The company focuses on innovation, precision manufacturing and aftermarket support to help clients improve operational efficiency and safety in challenging environments.

The EVI segment, operating under the DynaEnergetics brand, designs and manufactures explosive perforating systems, well completion tools and precision components for the non-metallic mining and oilfield services industries.