Stifel Nicolaus Cuts DMC Global (NASDAQ:BOOM) Price Target to $7.00

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

Other equities research analysts have also issued research reports about the company. Zacks Research lowered DMC Global from a “hold” rating to a “strong sell” rating in a research note on Thursday, February 26th. Wall Street Zen cut DMC Global from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Weiss Ratings reissued a “sell (e+)” rating on shares of DMC Global in a research note on Monday, December 29th. Finally, Roth Mkm cut their target price on shares of DMC Global from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $8.50.

DMC Global Stock Performance

DMC Global stock opened at $5.60 on Tuesday. DMC Global has a fifty-two week low of $5.46 and a fifty-two week high of $9.20. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.24 and a current ratio of 2.50. The stock has a market cap of $114.72 million, a P/E ratio of -6.29 and a beta of 1.61. The firm’s fifty day moving average price is $7.72 and its 200-day moving average price is $7.25.

DMC Global (NASDAQ:BOOM) last posted its quarterly earnings results on Monday, February 23rd. The industrial products company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.39). DMC Global had a negative return on equity of 2.77% and a negative net margin of 3.01%.The business had revenue of $143.53 million for the quarter, compared to analysts’ expectations of $142.37 million. On average, equities research analysts expect that DMC Global will post -0.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On DMC Global

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC bought a new stake in DMC Global in the first quarter valued at $214,000. Goldman Sachs Group Inc. raised its holdings in DMC Global by 55.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 137,128 shares of the industrial products company’s stock worth $1,155,000 after purchasing an additional 48,732 shares in the last quarter. Empowered Funds LLC lifted its position in shares of DMC Global by 7.5% in the 1st quarter. Empowered Funds LLC now owns 102,806 shares of the industrial products company’s stock worth $866,000 after purchasing an additional 7,216 shares during the period. Jane Street Group LLC boosted its stake in shares of DMC Global by 102.5% during the 1st quarter. Jane Street Group LLC now owns 27,384 shares of the industrial products company’s stock valued at $231,000 after purchasing an additional 13,864 shares in the last quarter. Finally, Focus Partners Wealth increased its position in shares of DMC Global by 39.9% during the first quarter. Focus Partners Wealth now owns 70,539 shares of the industrial products company’s stock valued at $594,000 after buying an additional 20,110 shares during the period. Institutional investors own 77.63% of the company’s stock.

About DMC Global

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.