Doman Building Materials Group (TSE:DBM) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Doman Building Materials Group Ltd. (TSE:DBM)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$9.50 and traded as high as C$9.94. Doman Building Materials Group shares last traded at C$9.82, with a volume of 134,425 shares.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Raymond James Financial raised their target price on Doman Building Materials Group from C$11.00 to C$12.00 and gave the stock a “strong-buy” rating in a research report on Monday, March 9th. Stifel Nicolaus reduced their price target on Doman Building Materials Group from C$11.75 to C$11.50 and set a “buy” rating on the stock in a research report on Monday, March 9th. Desjardins increased their price target on Doman Building Materials Group from C$11.00 to C$12.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Finally, National Bank Financial raised their price objective on Doman Building Materials Group from C$12.00 to C$12.50 and gave the stock an “outperform” rating in a research report on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$10.81.

Doman Building Materials Group Price Performance

The company has a debt-to-equity ratio of 157.89, a current ratio of 3.22 and a quick ratio of 1.11. The business’s fifty day moving average price is C$10.03 and its 200-day moving average price is C$9.50. The stock has a market capitalization of C$861.83 million, a price-to-earnings ratio of 10.67 and a beta of 1.28.

Doman Building Materials Group (TSE:DBM) last announced its quarterly earnings results on Thursday, March 5th. The company reported C$0.13 earnings per share for the quarter. The business had revenue of C$644.23 million for the quarter. Doman Building Materials Group had a net margin of 2.57% and a return on equity of 12.47%. On average, research analysts forecast that Doman Building Materials Group Ltd. will post 0.8051471 EPS 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.