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 passed above its 200-day moving average during trading on Wednesday . The stock has a 200-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.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on DBM shares. CIBC lowered their price objective on shares of Doman Building Materials Group from C$12.00 to C$11.50 in a research note on Wednesday, January 15th. TD Securities increased their price objective on shares of Doman Building Materials Group from C$11.50 to C$12.00 in a research note on Tuesday, October 22nd. Raymond James lowered their price objective on shares of Doman Building Materials Group from C$12.00 to C$11.50 in a research note on Tuesday, January 21st. Stifel Nicolaus raised their target price on shares of Doman Building Materials Group from C$11.00 to C$12.00 in a research note on Monday, November 25th. Finally, Canaccord Genuity Group raised their target price on shares of Doman Building Materials Group from C$9.00 to C$11.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of C$11.29.

Doman Building Materials Group Stock Performance

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

Doman Building Materials Group (TSE:DBM) last released its quarterly earnings data on Thursday, November 7th. The company reported C$0.18 earnings per share (EPS) for the quarter, beating the consensus estimate 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 previous year, the company earned $0.24 EPS. Sell-side analysts expect that Doman Building Materials Group Ltd. will post 0.8051471 earnings per share for the current fiscal 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.