Doman Building Materials Group (TSE:DBM) Lowered to Outperform Rating by Raymond James Financial

Key Points

• Raymond James downgraded Doman Building Materials Group from “strong buy” to “outperform,” while maintaining a C$12.00 price target—indicating roughly 4.62% potential upside.
• Despite the downgrade, analyst sentiment remains positive: six analysts rate the stock “buy,” with an average rating of “Buy” and an average price target of C$12.29.
• DBM shares recently traded at C$11.47, near their 52-week high of C$11.99; the company reported quarterly EPS of C$0.27 on revenue of C$761.97 million.

Doman Building Materials Group (TSE:DBM - Get Free Report) was downgraded by analysts at Raymond James Financial from a "strong-buy" rating to an "outperform" rating in a research note issued to investors on Monday,BayStreet.CA reports. They presently have a C$12.00 price target on the stock. Raymond James Financial's target price suggests a potential upside of 4.62% from the stock's current price.

Several other equities research analysts have also weighed in on the company. Royal Bank Of Canada lifted their price objective on Doman Building Materials Group from C$11.00 to C$12.00 and gave the stock an "outperform" rating in a report on Thursday, April 16th. National Bank Financial lifted their target price on shares of Doman Building Materials Group from C$13.50 to C$14.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 22nd. Stifel Nicolaus upped their price target on shares of Doman Building Materials Group from C$12.00 to C$12.25 and gave the company a "buy" rating in a research note on Tuesday, May 12th. Finally, Desjardins raised their price objective on shares of Doman Building Materials Group from C$12.00 to C$12.50 and gave the stock a "buy" rating in a report on Tuesday, May 12th. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of C$12.29.

Doman Building Materials Group Stock Performance

Shares of DBM stock traded down C$0.13 during trading hours on Monday, hitting C$11.47. 88,992 shares of the company were exchanged, compared to its average volume of 123,472. The firm has a fifty day simple moving average of C$11.04 and a 200 day simple moving average of C$10.35. The company has a current ratio of 3.94, a quick ratio of 1.11 and a debt-to-equity ratio of 175.88. Doman Building Materials Group has a 52-week low of C$8.34 and a 52-week high of C$11.99. The stock has a market capitalization of C$1.01 billion, a price-to-earnings ratio of 12.47 and a beta of 1.51.

Doman Building Materials Group (TSE:DBM - Get Free Report) last posted its quarterly earnings data on Friday, May 8th. The company reported C$0.27 EPS for the quarter. The business had revenue of C$761.97 million for the quarter. Doman Building Materials Group had a return on equity of 12.52% and a net margin of 2.61%. Research analysts predict that Doman Building Materials Group will post 0.8051471 earnings per share for the current fiscal year.

Insider Transactions at Doman Building Materials Group

In other news, insider Darren John Alexander Gwozd purchased 5,200 shares of the business's stock in a transaction on Thursday, May 14th. The stock was purchased at an average cost of C$10.35 per share, with a total value of C$53,820.00. Following the acquisition, the insider directly owned 5,200 shares in the company, valued at approximately C$53,820. This trade represents a ∞ increase in their ownership of the stock. 20.04% of the stock is owned by corporate insiders.

About Doman Building Materials Group

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. Its operations also include timber ownership and management of private timberlands and forest licenses, and agricultural post-peeling and pressure treating through CanWel Fibre Corp.

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