Dynamic Materials price target raised to $27 from $18 at DA Davidson DA Davidson increased its price target on Dynamic Materials as the firm expects the company's EPS to increase 22% in 2013 and 42% in 2014. The firm expects the company to provide a positive outlook for 2013 on its Q4 conference call, and it maintains a Buy rating on the stock.
Dynamic Materials cuts Q3 revenue to $38M-$40M, consensus $46.67M The 23%-27% revenue decline is down from its previous forecast of down 8%-12%. The revision follows a significant decline in order volume during recent weeks at DynaEnergetics, the company's oilfield products business, as well as timing of the award and shipment of certain orders at the company's NobelClad business. Third quarter gross margin is expected in a range of 25% to 27% versus the 29% reported in the third quarter last year. The company's prior forecast was for gross margin in a range of 27% to 29%. The decline relates to a less favorable product mix and the impact of lower sales volume on fixed overhead costs.