Doman Building Materials Group (TSE:DBM) Stock Crosses Above 200 Day Moving Average – What’s Next?

Doman Building Materials Group Ltd. (TSE:DBM)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$7.86 and traded as high as C$8.77. Doman Building Materials Group shares last traded at C$8.65, with a volume of 240,060 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DBM. Raymond James increased their price target on Doman Building Materials Group from C$9.75 to C$11.50 and gave the stock a “strong-buy” rating in a research note on Wednesday, October 2nd. National Bankshares upped their price objective on shares of Doman Building Materials Group from C$8.50 to C$12.00 and gave the stock an “outperform” rating in a report on Monday, October 7th. TD Securities raised their target price on shares of Doman Building Materials Group from C$11.50 to C$12.00 in a research note on Tuesday, October 22nd. CIBC upped their price target on shares of Doman Building Materials Group from C$8.50 to C$9.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Stifel Nicolaus increased their price objective on shares of Doman Building Materials Group from C$11.00 to C$12.00 in a report on Monday, November 25th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Doman Building Materials Group presently has an average rating of “Buy” and a consensus target price of C$10.93.

Doman Building Materials Group Price Performance

The company has a 50 day moving average of C$9.04 and a two-hundred day moving average of C$7.86. The firm has a market cap of C$755.06 million, a P/E ratio of 12.01 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.

About Doman Building Materials Group

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.