Doman Building Materials Group (TSE:DBM) Shares Cross Above 200 Day Moving Average – Here’s Why

Doman Building Materials Group Ltd. (TSE:DBM)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$9.16 and traded as high as C$9.89. Doman Building Materials Group shares last traded at C$9.89, with a volume of 250,888 shares trading hands.

Wall Street Analysts Forecast Growth

DBM has been the subject of several research reports. 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. National Bankshares upped their price objective on Doman Building Materials Group from C$10.50 to C$11.50 and gave the company an “outperform” rating in a report on Tuesday, October 28th. Finally, Stifel Nicolaus dropped their target price on 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. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Doman Building Materials Group presently has a consensus rating of “Moderate Buy” and a consensus price target of C$10.31.

Doman Building Materials Group Price 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 stock has a market capitalization of C$866.66 million, a price-to-earnings ratio of 11.24 and a beta of 1.59. The business’s 50 day simple moving average is C$9.26 and its 200-day simple moving average is C$9.16.

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

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.