Doman Building Materials Group (TSE:DBM) Share Price Breaks Below 200 Day Moving Average – Here’s What Happened

Shares of Doman Building Materials Group Ltd. (TSE:DBM) passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of C$10.76 and traded as low as C$10.57. Doman Building Materials Group shares last traded at C$10.73, with a volume of 158,875 shares changing hands.

Wall Street Analysts Forecast Growth

DBM has been the subject of a number of recent research reports. Raymond James Financial increased their target price on Doman Building Materials Group from C$12.00 to C$12.50 and gave the stock an “outperform” rating in a report on Thursday, August 6th. National Bank Financial raised their target price on Doman Building Materials Group from C$13.50 to C$14.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 22nd. Five equities research analysts have rated the stock with a Buy rating. According to MarketBeat, Doman Building Materials Group has an average rating of “Buy” and a consensus target price of C$12.65.

Doman Building Materials Group Stock Performance

The firm has a market cap of C$931.68 million, a P/E ratio of 11.04 and a beta of 1.60. The company has a current ratio of 3.27, a quick ratio of 1.11 and a debt-to-equity ratio of 153.48. The company’s fifty day moving average price is C$10.93 and its two-hundred day moving average price is C$10.78.

Doman Building Materials Group (TSE:DBM) last announced its quarterly earnings results on Wednesday, August 5th. The company reported C$0.36 earnings per share (EPS) for the quarter. The firm had revenue of C$904.47 million during the quarter. Doman Building Materials Group had a net margin of 2.71% and a return on equity of 12.64%. As a group, sell-side analysts predict that Doman Building Materials Group Ltd. will post 0.81 EPS for the current fiscal year.

Doman Building Materials Group Company Profile

Founded in 1989, Doman is headquartered in Vancouver, British Columbia, and trades on the Toronto Stock Exchange under the symbol DBM. As Canadas premier national distributor in the building materials and related products sector, Doman operates several distinct divisions with multiple treating plants, planing and specialty facilities and distribution centres coast-to-coast in all major cities across Canada and coast-to-coast across the United States. Strategically located across Canada, Doman Building Materials Canada operates distribution centres coast-to-coast, and Doman Treated Wood Canada operates multiple treating plants near major cities.