Doman Building Materials Group (TSE:DBM) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Doman Building Materials Group Ltd. (TSE:DBM)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$7.86 and traded as high as C$8.77. Doman Building Materials Group shares last traded at C$8.65, with a volume of 240,060 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on DBM shares. TD Securities lifted their price target on Doman Building Materials Group from C$11.50 to C$12.00 in a research note on Tuesday, October 22nd. Canaccord Genuity Group increased their target price on Doman Building Materials Group from C$9.00 to C$11.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. National Bankshares boosted their price target on Doman Building Materials Group from C$8.50 to C$12.00 and gave the company an “outperform” rating in a report on Monday, October 7th. CIBC upped their price target on Doman Building Materials Group from C$8.50 to C$9.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Raymond James lifted their price objective on shares of Doman Building Materials Group from C$9.75 to C$11.50 and gave the stock a “strong-buy” rating in a report on Wednesday, October 2nd. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of C$10.93.

Doman Building Materials Group Price Performance

The firm has a market capitalization of C$755.06 million, a price-to-earnings ratio of 12.01 and a beta of 1.53. The company has a current ratio of 3.78, a quick ratio of 1.11 and a debt-to-equity ratio of 132.33. The business has a 50-day moving average price of C$9.04 and a two-hundred day moving average price of C$7.86.

About Doman Building Materials Group

Doman Building Materials Group Ltd., through its subsidiaries, engages in the wholesale distribution of building materials and home renovation products in the United States and Canada. The company offers treated wood; siding and trim; decking and aluminum railing; engineered wood products; roofing products; insulation and wrap products; and lumber and plywood products.