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

Doman Building Materials Group Ltd. (TSE:DBM) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$7.86 and traded as high as C$8.77. Doman Building Materials Group shares last traded at C$8.65, with a volume of 240,060 shares.

Wall Street Analyst Weigh In

A number of equities analysts have commented on DBM shares. Canaccord Genuity Group lifted their price objective 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. Raymond James boosted their price objective on shares of Doman Building Materials Group from C$9.75 to C$11.50 and gave the company a “strong-buy” rating in a report on Wednesday, October 2nd. CIBC increased their price target on shares of Doman Building Materials Group from C$8.50 to C$9.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. National Bankshares lifted their price objective on shares of Doman Building Materials Group from C$8.50 to C$12.00 and gave the company an “outperform” rating in a report on Monday, October 7th. Finally, TD Securities increased their target price on shares of Doman Building Materials Group from C$11.50 to C$12.00 in a research note on Tuesday, October 22nd. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Doman Building Materials Group currently has a consensus rating of “Buy” and a consensus price target of C$10.93.

Doman Building Materials Group Trading Up 1.2 %

The company’s fifty day simple moving average is C$9.04 and its 200-day simple moving average is C$7.86. The firm has a market capitalization of C$755.06 million, a PE ratio of 12.01 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.

About Doman Building Materials Group

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.