Doman Building Materials Group (TSE:DBM) Shares Cross Above 200 Day Moving Average – Here’s Why

Doman Building Materials Group Ltd. (TSE:DBM)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$8.13 and traded as high as C$8.18. Doman Building Materials Group shares last traded at C$8.07, with a volume of 154,706 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have commented on DBM shares. TD Securities upped their price objective on shares of Doman Building Materials Group from C$11.50 to C$12.00 in a report on Tuesday, October 22nd. Canaccord Genuity Group upped their price objective on shares of 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 upped their price objective on shares of Doman Building Materials Group from C$8.50 to C$12.00 and gave the stock an “outperform” rating in a report on Monday, October 7th. CIBC decreased their price target on shares of Doman Building Materials Group from C$12.00 to C$11.50 in a research note on Wednesday, January 15th. Finally, Raymond James decreased their price target on shares of Doman Building Materials Group from C$12.00 to C$11.50 in a research note on Tuesday, January 21st. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of C$11.29.

Doman Building Materials Group Stock Up 0.5 %

The company’s 50-day moving average is C$8.80 and its 200 day moving average is C$8.13. The company has a market capitalization of C$704.43 million, a PE ratio of 11.21 and a beta of 1.53. The company has a debt-to-equity ratio of 132.33, a quick ratio of 1.11 and a current ratio of 3.78.

Doman Building Materials Group (TSE:DBM) last announced its quarterly earnings results on Thursday, November 7th. The company reported C$0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.14 by C$0.04. Doman Building Materials Group had a net margin of 2.56% and a return on equity of 10.63%. During the same quarter in the prior year, the firm posted $0.24 EPS. As a group, analysts anticipate 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.