Doman Building Materials Group (TSE:DBM) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

Doman Building Materials Group Ltd. (TSE:DBM) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$8.95 and traded as high as C$9.51. Doman Building Materials Group shares last traded at C$9.48, with a volume of 48,212 shares trading hands.

Wall Street Analyst Weigh In

DBM has been the subject of several analyst reports. Stifel Nicolaus lowered their target price on shares of Doman Building Materials Group from C$12.00 to C$10.50 and set a “buy” rating for the company in a report on Tuesday, October 7th. TD Securities increased their price objective on shares of Doman Building Materials Group from C$10.00 to C$11.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. National Bankshares boosted their target price on Doman Building Materials Group from C$10.50 to C$11.50 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. Raymond James Financial upped their target price on Doman Building Materials Group from C$10.00 to C$11.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 7th. Finally, Desjardins set a C$11.00 price target on Doman Building Materials Group and gave the stock a “buy” rating in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Doman Building Materials Group presently has a consensus rating of “Moderate Buy” and an average target price of C$10.31.

Doman Building Materials Group Trading Up 1.2%

The stock’s 50-day moving average price is C$8.93 and its 200 day moving average price is C$8.96. The company has a debt-to-equity ratio of 112.91, a current ratio of 2.94 and a quick ratio of 1.11. The firm has a market capitalization of C$840.37 million, a PE ratio of 10.90 and a beta of 1.44.

Doman Building Materials Group (TSE:DBM) last announced its quarterly earnings results on Thursday, November 6th. The company reported C$0.21 earnings per share (EPS) for the quarter. The firm had revenue of C$795.09 million during the quarter. Doman Building Materials Group had a return on equity of 9.41% and a net margin of 2.27%. On average, sell-side analysts expect that Doman Building Materials Group Ltd. will post 0.8051471 EPS for the current fiscal year.

Doman Building Materials Group Company Profile

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.