Doman Building Materials Group (TSE:DBM) Hits New 12-Month High on Analyst Upgrade

Doman Building Materials Group Ltd. (TSE:DBM) reached a new 52-week high during trading on Monday after Stifel Nicolaus raised their price target on the stock from C$11.00 to C$12.00. The company traded as high as C$9.78 and last traded at C$9.78, with a volume of 28252 shares trading hands. The stock had previously closed at C$9.58.

DBM has been the topic of several other reports. Canaccord Genuity Group upped their target price on Doman Building Materials Group from C$9.00 to C$11.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. CIBC upped their price objective on shares of Doman Building Materials Group from C$8.50 to C$9.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. National Bankshares increased their price objective on shares of Doman Building Materials Group from C$8.50 to C$12.00 and gave the stock an “outperform” rating in a research report on Monday, October 7th. Raymond James upped their price target 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 research report on Wednesday, October 2nd. Finally, TD Securities lifted their price objective on Doman Building Materials Group from C$11.50 to C$12.00 in a research report on Tuesday, October 22nd. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Doman Building Materials Group has a consensus rating of “Buy” and an average price target of C$10.93.

Doman Building Materials Group Stock Performance

The company has a market capitalization of C$842.35 million, a price-to-earnings ratio of 13.57 and a beta of 1.53. The company has a 50 day moving average price of C$8.59 and a 200 day moving average price of C$7.58. The company has a debt-to-equity ratio of 132.33, a quick ratio of 1.11 and a current ratio of 3.78.

Doman Building Materials Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.56 annualized dividend and a dividend yield of 5.80%. Doman Building Materials Group’s dividend payout ratio is 77.78%.

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.