Royal Bank of Canada Lowers Doman Building Materials Group (TSE:DBM) Price Target to C$9.00

Doman Building Materials Group (TSE:DBM) had its price target lowered by stock analysts at Royal Bank of Canada from C$10.00 to C$9.00 in a note issued to investors on Thursday, BayStreet.CA reports. Royal Bank of Canada’s target price points to a potential upside of 32.35% from the company’s previous close.

A number of other analysts also recently weighed in on DBM. CIBC reduced their price target on shares of Doman Building Materials Group from C$10.00 to C$9.00 and set an “outperform” rating for the company in a report on Tuesday, May 14th. Canaccord Genuity Group decreased their target price on Doman Building Materials Group from C$10.00 to C$9.00 and set a “buy” rating on the stock in a research report on Tuesday, May 14th. National Bankshares upped their price target on Doman Building Materials Group from C$10.00 to C$10.50 and gave the company an “outperform” rating in a report on Monday, May 13th. Finally, Raymond James decreased their price objective on Doman Building Materials Group from C$10.75 to C$9.75 and set a “strong-buy” rating on the stock in a report on Monday, May 13th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of C$9.71.

Doman Building Materials Group Price Performance

Shares of Doman Building Materials Group stock opened at C$6.80 on Thursday. Doman Building Materials Group has a 1-year low of C$6.08 and a 1-year high of C$8.64. The firm has a fifty day simple moving average of C$7.14 and a 200-day simple moving average of C$7.74. The company has a current ratio of 1.30, a quick ratio of 1.11 and a debt-to-equity ratio of 142.37. The stock has a market capitalization of C$592.55 million, a price-to-earnings ratio of 7.91 and a beta of 1.58.

Doman Building Materials Group (TSE:DBM) last issued its quarterly earnings results on Thursday, May 9th. The company reported C$0.16 EPS for the quarter, hitting the consensus estimate of C$0.16. Doman Building Materials Group had a return on equity of 12.84% and a net margin of 3.03%. The company had revenue of C$602.48 million for the quarter, compared to the consensus estimate of C$665.05 million. On average, sell-side analysts expect that Doman Building Materials Group will post 0.744877 earnings per share for the current year.

Insider Transactions at Doman Building Materials Group

In related news, Director Amar Doman purchased 73,500 shares of the stock in a transaction on Thursday, May 30th. The shares were purchased at an average cost of C$7.13 per share, for a total transaction of C$524,415.15. In other Doman Building Materials Group news, Senior Officer James Salter Code purchased 6,500 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were acquired at an average cost of C$7.38 per share, for a total transaction of C$47,970.00. Also, Director Amar Doman purchased 73,500 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were acquired at an average cost of C$7.13 per share, with a total value of C$524,415.15. In the last ninety days, insiders purchased 150,000 shares of company stock valued at $1,078,857. Corporate insiders own 19.98% of the company’s stock.

Doman Building Materials Group Company Profile

Doman Building Materials Group Ltd., through its subsidiaries, engages in the wholesale distribution of building materials and home renovation products in the United States and Canada. The company offers treated wood; siding and trim; decking and aluminum railing; engineered wood products; roofing products; insulation and wrap products; and lumber and plywood products.