Doman Building Materials Group (TSE:DBM) Hits New 12-Month High – Here’s Why

Doman Building Materials Group Ltd. (TSE:DBM) reached a new 52-week high during trading on Thursday . The company traded as high as C$10.59 and last traded at C$10.57, with a volume of 65675 shares trading hands. The stock had previously closed at C$10.48.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Stifel Nicolaus lifted their price objective on Doman Building Materials Group from C$11.00 to C$11.75 and gave the stock a “buy” rating in a research note on Friday, February 6th. Desjardins set a C$11.00 price target on shares of Doman Building Materials Group and gave the stock a “buy” rating in a report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of C$10.47.

Doman Building Materials Group Stock Performance

The company has a quick ratio of 1.11, a current ratio of 2.94 and a debt-to-equity ratio of 112.91. The firm has a market capitalization of C$928.88 million, a P/E ratio of 12.05 and a beta of 1.26. The company’s 50 day moving average is C$9.90 and its 200-day moving average is C$9.48.

About Doman Building Materials Group

Doman Building Materials Group Ltd is a wholesale distributor of building materials and home renovation products. The company services the new home construction, home renovation and industrial markets by supplying the retail and wholesale lumber and building materials industry, hardware stores, industrial and furniture manufacturers and similar concerns. Its operations also include timber ownership and management of private timberlands and forest licenses, and agricultural post-peeling and pressure treating through CanWel Fibre Corp.