UPDATE - Auriga Upgraded Dynamic Materials (BOOM) to Buy; Recent Dip Offers Buying Opportunity
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Price: $16.20 +0.37%
Rating Summary:
5 Buy, 1 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
5 Buy, 1 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade BOOM Now!
UPDATE - Auriga upgraded Dynamic Materials (NASDAQ: BOOM) from Hold to Buy with a price target of $26.00.
Analyst, Dan Whalen, said, "We are upgrading shares of BOOM to Buy based on the share price pull back and improving fundamentals. Since late February, when 4Q11 results were reported, the shares have declined by approximately 25% and almost 15% in the month of April. While the management team has maintained its top-line revenue guidance of 7% - 10% y-o-y growth, they increased the gross margin guidance range from 28% - 29% to 29% - 30%. Furthermore, the backlog for the Explosive Metalworking segment (the only segment with a reported backlog) increased an impressive 28% from $45 million at the end of fiscal 2011. The company also remains well positioned to continue to benefit from key end markets such as energy and chemical processing. Lastly, based on our existing $26 price target, shares offer considerable upside and present an attractive risk/reward scenario, in our opinion."
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Analyst, Dan Whalen, said, "We are upgrading shares of BOOM to Buy based on the share price pull back and improving fundamentals. Since late February, when 4Q11 results were reported, the shares have declined by approximately 25% and almost 15% in the month of April. While the management team has maintained its top-line revenue guidance of 7% - 10% y-o-y growth, they increased the gross margin guidance range from 28% - 29% to 29% - 30%. Furthermore, the backlog for the Explosive Metalworking segment (the only segment with a reported backlog) increased an impressive 28% from $45 million at the end of fiscal 2011. The company also remains well positioned to continue to benefit from key end markets such as energy and chemical processing. Lastly, based on our existing $26 price target, shares offer considerable upside and present an attractive risk/reward scenario, in our opinion."
To see more ratings on BOOM, Click Here
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