Doman Building Materials Group (TSE:DBM) Sets New 52-Week High Following Analyst Upgrade

Doman Building Materials Group Ltd. (TSE:DBM)’s stock price reached a new 52-week high on Thursday after Canaccord Genuity Group raised their price target on the stock from C$9.00 to C$11.00. Canaccord Genuity Group currently has a buy rating on the stock. Doman Building Materials Group traded as high as C$8.82 and last traded at C$8.69, with a volume of 96007 shares changing hands. The stock had previously closed at C$8.72.

A number of other equities research analysts have also weighed in on DBM. Raymond James lifted their target price on shares of Doman Building Materials Group from C$9.75 to C$11.50 and gave the company a “strong-buy” rating in a research note on Wednesday. Stifel Nicolaus lifted their price objective on Doman Building Materials Group from C$9.00 to C$9.25 and gave the company a “buy” rating in a research report on Wednesday. Royal Bank of Canada decreased their target price on Doman Building Materials Group from C$10.00 to C$9.00 in a research report on Thursday, July 11th. National Bankshares dropped their price target on Doman Building Materials Group from C$10.50 to C$8.50 and set an “outperform” rating on the stock in a research report on Tuesday, August 13th. Finally, CIBC increased their price objective 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. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of C$9.71.

Doman Building Materials Group Trading Down 0.3 %

The stock’s fifty day simple moving average is C$7.17 and its 200 day simple moving average is C$7.37. The firm has a market capitalization of C$758.55 million, a PE ratio of 12.11 and a beta of 1.52. 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 (TSE:DBM) last issued its quarterly earnings results on Friday, August 9th. The company reported C$0.20 earnings per share for the quarter, missing the consensus estimate of C$0.22 by C($0.02). The firm had revenue of C$689.83 million for the quarter, compared to analysts’ expectations of C$742.90 million. Doman Building Materials Group had a net margin of 2.56% and a return on equity of 10.63%. On average, sell-side analysts predict that Doman Building Materials Group Ltd. will post 0.7751004 earnings per share for the current year.

Doman Building Materials Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $0.56 dividend on an annualized basis and a yield of 6.44%. Doman Building Materials Group’s payout ratio is presently 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.