Doman Building Materials Group (TSE:DBM) Stock Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• Doman Building Materials Group's stock (TSE:DBM) has surpassed its 200-day moving average of C$8.39, trading as high as C$9.22.
• Analysts from TD Securities and Raymond James Financial both raised their price targets for the stock to C$11.00, maintaining a "buy" and "strong-buy" rating, respectively.
• The company has a market capitalization of C$802.70 million and operates in the wholesale distribution of building materials for various markets.

Doman Building Materials Group Ltd. (TSE:DBM - Get Free Report) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$8.39 and traded as high as C$9.22. Doman Building Materials Group shares last traded at C$9.16, with a volume of 128,605 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. TD Securities increased their price objective on shares of Doman Building Materials Group from C$10.00 to C$11.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Raymond James Financial raised their price target on shares of Doman Building Materials Group from C$10.00 to C$11.00 and gave the stock a "strong-buy" rating in a research report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Doman Building Materials Group currently has a consensus rating of "Moderate Buy" and an average price target of C$10.07.

Doman Building Materials Group Trading Up 0.4%

The firm has a market capitalization of C$802.70 million, a P/E ratio of 10.78 and a beta of 1.36. The business's 50-day moving average is C$9.44 and its 200 day moving average is C$8.39. The company has a debt-to-equity ratio of 112.91, a current ratio of 2.94 and a quick ratio of 1.11.

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.

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