Doman Building Materials Group (TSE:DBM) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Doman Building Materials Group Ltd. (TSE:DBM) shares 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 changing hands.

Wall Street Analyst Weigh In

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

Doman Building Materials Group Stock Down 0.5%

The stock has a market capitalization of C$842.52 million, a price-to-earnings ratio of 10.43 and a beta of 1.28. The company has a quick ratio of 1.11, a current ratio of 3.22 and a debt-to-equity ratio of 157.89. The stock has a 50 day moving average price of C$10.02 and a 200 day moving average price of C$9.50.

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

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.