Doman Building Materials Group (TSE:DBM) Share Price Crosses Above 200-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$10.18 and traded as high as C$11.40. Doman Building Materials Group shares last traded at C$11.21, with a volume of 175,444 shares traded.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on DBM. Royal Bank Of Canada increased their target price on shares of Doman Building Materials Group from C$11.00 to C$12.00 and gave the stock an “outperform” rating in a research note on Thursday, April 16th. Stifel Nicolaus upped their price target on Doman Building Materials Group from C$12.00 to C$12.25 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Desjardins increased their price target on Doman Building Materials Group from C$12.00 to C$12.50 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Finally, National Bank Financial raised their price objective on Doman Building Materials Group from C$12.50 to C$13.50 and gave the company an “outperform” rating in a report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to MarketBeat.com, Doman Building Materials Group has a consensus rating of “Buy” and a consensus target price of C$12.21.

Doman Building Materials Group Trading Down 0.4%

The company has a debt-to-equity ratio of 175.88, a current ratio of 3.94 and a quick ratio of 1.11. The firm has a market capitalization of C$969.78 million, a PE ratio of 12.01 and a beta of 1.51. The company’s fifty day simple moving average is C$10.77 and its 200-day simple moving average is C$10.20.

Doman Building Materials Group (TSE:DBM) last released its earnings results on Friday, May 8th. The company reported C$0.27 EPS for the quarter. The business had revenue of C$761.97 million during the quarter. Doman Building Materials Group had a net margin of 2.61% and a return on equity of 12.52%. As a group, sell-side analysts expect that Doman Building Materials Group Ltd. will post 0.8051471 earnings per share for the current fiscal year.

Doman Building Materials Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 15th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.1%. Doman Building Materials Group’s dividend payout ratio is presently 60.87%.

Insider Buying and Selling at Doman Building Materials Group

In other news, insider Darren John Alexander Gwozd bought 5,200 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were acquired at an average price of C$10.35 per share, for a total transaction of C$53,820.00. Following the completion of the transaction, the insider directly owned 5,200 shares in the company, valued at C$53,820. The trade was a ∞ increase in their position. 20.04% of the stock is currently owned by company insiders.

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. 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.