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

Key Points

• Doman Building Materials Group (TSE:DBM) shares exceeded their 200-day moving average, trading as high as C$9.91 and closing at C$9.79 on a volume of 152,646 shares.
• Analysts have raised their price targets for DBM, with Raymond James Financial and TD Securities increasing their target from C$10.00 to C$11.00, both rating it a "strong-buy" or "buy".
• The company boasts a market capitalization of C$856.15 million and a P/E ratio of 11.49, reflecting strong performance in the building materials and home renovation markets.

Doman Building Materials Group Ltd. (TSE:DBM - Get Free Report) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$8.11 and traded as high as C$9.91. Doman Building Materials Group shares last traded at C$9.79, with a volume of 152,646 shares changing hands.

Analysts Set New Price Targets

Several research firms have issued reports on DBM. Raymond James Financial boosted their price objective on shares of Doman Building Materials Group from C$10.00 to C$11.00 and gave the company a "strong-buy" rating in a research report on Thursday, August 7th. TD Securities boosted their price target on shares of Doman Building Materials Group from C$10.00 to C$11.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Doman Building Materials Group presently has a consensus rating of "Moderate Buy" and a consensus target price of C$10.19.

Doman Building Materials Group Price Performance

The firm has a market cap of C$856.15 million, a P/E ratio of 11.49 and a beta of 1.36. The stock's 50-day moving average is C$9.22 and its 200-day moving average is C$8.15. The company has a quick ratio of 1.11, a current ratio of 2.94 and a debt-to-equity ratio of 112.91.

Doman Building Materials Group Company Profile

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.