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

Doman Building Materials Group Ltd. (TSE:DBM)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$10.31 and traded as high as C$11.58. Doman Building Materials Group shares last traded at C$11.50, with a volume of 87,805 shares traded.

Analyst Ratings Changes

A number of brokerages have recently weighed in on DBM. Royal Bank Of Canada increased their target price on Doman Building Materials Group from C$11.00 to C$12.00 and gave the stock an “outperform” rating in a research note on Thursday, April 16th. Desjardins boosted their price target on Doman Building Materials Group from C$12.00 to C$12.50 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Stifel Nicolaus upped their price objective on Doman Building Materials Group from C$12.00 to C$12.25 and gave the company a “buy” rating in a report on Tuesday, May 12th. Finally, National Bank Financial increased their price objective on Doman Building Materials Group from C$13.50 to C$14.00 and gave the stock an “outperform” rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of C$12.29.

Doman Building Materials Group Price Performance

The company has a quick ratio of 1.11, a current ratio of 3.94 and a debt-to-equity ratio of 175.88. The company’s fifty day moving average price is C$10.99 and its 200 day moving average price is C$10.32. The company has a market capitalization of C$1.01 billion, a P/E ratio of 12.55 and a beta of 1.51.

Doman Building Materials Group (TSE:DBM) last issued its quarterly earnings results on Friday, May 8th. The company reported C$0.27 earnings per share (EPS) for the quarter. Doman Building Materials Group had a return on equity of 12.52% and a net margin of 2.61%.The business had revenue of C$761.97 million during the quarter. As a group, sell-side analysts forecast that Doman Building Materials Group Ltd. will post 0.8051471 EPS for the current year.

Doman Building Materials Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 15th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Tuesday, June 30th. Doman Building Materials Group’s dividend payout ratio is presently 60.87%.

Insider Activity

In related news, insider Darren John Alexander Gwozd purchased 5,200 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average price of C$10.35 per share, for a total transaction of C$53,820.00. Following the completion of the transaction, the insider owned 5,200 shares of the company’s stock, valued at approximately C$53,820. This trade represents a ∞ increase in their ownership of the stock. Company insiders own 20.04% of the company’s stock.

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.