Doman Building Materials Group (TSE:DBM) Sets New 1-Year High on Analyst Upgrade

Doman Building Materials Group Ltd. (TSE:DBM) hit 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 traded. The stock had previously closed at C$9.58.

Several other equities analysts have also recently commented on the stock. TD Securities boosted their target price on shares of Doman Building Materials Group from C$11.50 to C$12.00 in a research report on Tuesday, October 22nd. Canaccord Genuity Group boosted 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 raised their target price on Doman Building Materials Group from C$9.75 to C$11.50 and gave the company a “strong-buy” rating in a report on Wednesday, October 2nd. 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 report on Wednesday, October 2nd. Finally, National Bankshares raised their price objective on Doman Building Materials Group from C$8.50 to C$12.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of C$10.93.

Doman Building Materials Group Price Performance

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 market cap of C$842.35 million, a price-to-earnings ratio of 13.57 and a beta of 1.53. The company has a quick ratio of 1.11, a current ratio of 3.78 and a debt-to-equity ratio of 132.33.

Doman Building Materials Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 5.80%. The ex-dividend date was Friday, September 27th. Doman Building Materials Group’s dividend payout ratio (DPR) is currently 77.78%.

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.