Doman Building Materials Group (TSE:DBM) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Doman Building Materials Group Ltd. (TSE:DBM) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$9.47 and traded as high as C$10.55. Doman Building Materials Group shares last traded at C$10.38, with a volume of 114,581 shares traded.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on DBM shares. Desjardins set a C$11.00 price objective on Doman Building Materials Group and gave the stock a “buy” rating in a research report on Thursday, October 30th. National Bank Financial upped their price objective on shares of Doman Building Materials Group from C$10.50 to C$11.50 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Finally, Stifel Nicolaus increased their price objective on shares of Doman Building Materials Group from C$11.00 to C$11.75 and gave the stock a “buy” rating in a research report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of C$10.47.

Doman Building Materials Group Stock Performance

The company has a debt-to-equity ratio of 112.91, a quick ratio of 1.11 and a current ratio of 2.94. The company has a 50 day moving average price of C$9.88 and a 200 day moving average price of C$9.47. The company has a market capitalization of C$909.60 million, a price-to-earnings ratio of 11.80 and a beta of 1.26.

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.