Doman Building Materials Group (TSE:DBM) Stock Price Passes 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 Tuesday . The stock has a 200-day moving average of C$9.47 and traded as high as C$10.55. Doman Building Materials Group shares last traded at C$10.38, with a volume of 114,581 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on DBM. Stifel Nicolaus raised their price target on shares of Doman Building Materials Group from C$11.00 to C$11.75 and gave the company a “buy” rating in a research note on Friday, February 6th. Desjardins set a C$11.00 price objective on shares of Doman Building Materials Group and gave the company a “buy” rating in a research note on Thursday, October 30th. Finally, National Bank Financial boosted their target price on shares of Doman Building Materials Group from C$10.50 to C$11.50 and gave the stock an “outperform” rating in a research note on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of C$10.47.

Doman Building Materials Group Trading Up 2.5%

The business’s fifty day moving average is C$9.88 and its 200-day moving average is C$9.47. The company has a debt-to-equity ratio of 112.91, a quick ratio of 1.11 and a current ratio of 2.94. The firm has a market cap of C$909.60 million, a P/E ratio of 11.80 and a beta of 1.26.

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.