Doman Building Materials Group (TSE:DBM) Shares Cross Above 200-Day Moving Average – Here’s Why

Doman Building Materials Group Ltd. (TSE:DBM)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$7.98 and traded as high as C$8.50. Doman Building Materials Group shares last traded at C$8.32, with a volume of 156,036 shares.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. TD Securities increased their price target on Doman Building Materials Group from C$11.50 to C$12.00 in a report on Tuesday, October 22nd. CIBC boosted their price target on Doman Building Materials Group from C$8.50 to C$9.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Canaccord Genuity Group increased their price objective on shares of Doman Building Materials Group from C$9.00 to C$11.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Raymond James boosted their target price on shares of Doman Building Materials Group from C$9.75 to C$11.50 and gave the stock a “strong-buy” rating in a research report on Wednesday, October 2nd. Finally, Stifel Nicolaus raised their price target on shares of Doman Building Materials Group from C$11.00 to C$12.00 in a report on Monday, November 25th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of C$10.93.

Doman Building Materials Group Price Performance

The firm has a market cap of C$702.68 million, a price-to-earnings ratio of 11.18 and a beta of 1.53. The business’s 50-day moving average price is C$9.02 and its two-hundred day moving average price is C$8.00. The company has a debt-to-equity ratio of 132.33, a current ratio of 3.78 and a quick ratio of 1.11.

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.