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

Shares of Doman Building Materials Group Ltd. (TSE:DBM) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$9.50 and traded as high as C$9.95. Doman Building Materials Group shares last traded at C$9.87, with a volume of 92,010 shares traded.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DBM. Stifel Nicolaus dropped their price target on Doman Building Materials Group from C$11.75 to C$11.50 and set a “buy” rating on the stock in a research note on Monday, March 9th. Raymond James Financial boosted their price objective on Doman Building Materials Group from C$11.00 to C$12.00 and gave the company a “strong-buy” rating in a report on Monday, March 9th. National Bank 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 Monday, March 9th. Finally, Desjardins lifted their price target on shares of Doman Building Materials Group from C$11.00 to C$12.00 and gave the company a “buy” rating in a research report on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of C$10.81.

Doman Building Materials Group Trading Down 1.8%

The stock has a market capitalization of C$835.11 million, a PE ratio of 10.83 and a beta of 1.28. The firm has a 50 day moving average price of C$10.05 and a 200 day moving average price of C$9.50. The company has a quick ratio of 1.11, a current ratio of 3.22 and a debt-to-equity ratio of 157.89.

Doman Building Materials Group (TSE:DBM) last announced its earnings results 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 for the quarter. Doman Building Materials Group had a return on equity of 12.47% and a net margin of 2.57%. Equities analysts expect that Doman Building Materials Group Ltd. will post 0.8051471 EPS for the current fiscal year.

About Doman Building Materials Group

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.