Dynamic Materials price target lowered to $18 from $21 at DA Davidson DA Davidson reduced its target on Dynamic Materials after the company lowered its 2012 revenue guidance. However, the firm still expects the company to grow over the long-term and it maintains a Buy rating on the stock.
Dynamic Materials sees Q3 sales down 8%-12% vs. $51.9M last year Consensus $47.64M. The company said, "The decline relates to DynaEnergetics, which had a strong comparable third quarter last year. Third quarter gross margin is expected to be in a range of 27% to 29% versus the 29% reported in last year's third quarter."