Dynamic Materials Corp. Receives Buy Rating from DA Davidson (BOOM)
Dynamic Materials Corp. (NASDAQ:BOOM)‘s stock had its “buy” rating restated by analysts at DA Davidson in a research report issued to clients and investors on Friday, American Banking & Market News reports. They currently have a $27.00 target price on the stock, up from their previous target price of $24.00. DA Davidson’s price target points to a potential upside of 16.93% from the company’s current price.
The analysts wrote, “Following comments coming out of D.A. Davidson’s recent 12th annual E&C conference, we are optimistic that continued positive momentum in the development of North American oil and gas will drive sustained long-term growth for BOOM. Several of the companies attending the conference are key end market drivers for the Explosion Metalworking business of BOOM, which has contributed 55%-60% of total revenue over the past six quarters. While some E&C companies did point to the potential of some near-term delay in work, many of them have started to see some improvement already. Most of the E&C companies expect a surge in orders in 2014, which could last for five years or more.”
BOOM has been the subject of a number of other recent research reports. Analysts at Topeka Capital Markets reiterated a “buy” rating on shares of Dynamic Materials Corp. (NASDAQ:BOOM) in a research note to investors on Wednesday, August 28th. They now have a $25.00 price target on the stock, up previously from $20.00. Analysts at Zacks upgraded shares of Dynamic Materials Corp. (NASDAQ:BOOM) from an “underperform” rating to a “neutral” rating in a research note to investors on Tuesday, July 2nd. They now have a $17.10 price target on the stock.
One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $22.28.
Shares of Dynamic Materials Corp. (NASDAQ:BOOM) traded up 2.86% during mid-day trading on Friday, hitting $23.75. The stock had a trading volume of 40,951 shares. Dynamic Materials Corp. has a 52-week low of $12.18 and a 52-week high of $23.39. The stock’s 50-day moving average is $20.71 and its 200-day moving average is $17.79. The company has a market cap of $326.6 million and a price-to-earnings ratio of 30.62.
Dynamic Materials Corp. (NASDAQ:BOOM) last announced its earnings results on Tuesday, July 30th. The company reported $0.25 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.21 by $0.04. The company had revenue of $57.90 million for the quarter, compared to the consensus estimate of $54.63 million. During the same quarter in the prior year, the company posted $0.20 earnings per share. The company’s quarterly revenue was up 18.9% on a year-over-year basis. Analysts expect that Dynamic Materials Corp. will post $0.87 EPS for the current fiscal year.
Dynamic Materials Corporation (NASDAQ:BOOM) is a provider of explosion-welded clad metal plates.
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