Doman Building Materials Group (TSE:DBM) Reaches New 12-Month High Following Analyst Upgrade

Shares of Doman Building Materials Group Ltd. (TSE:DBM) reached a new 52-week high 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 trading hands. The stock had previously closed at C$9.58.

Other research analysts also recently issued reports about the company. TD Securities upped their price target on Doman Building Materials Group from C$11.50 to C$12.00 in a research note on Tuesday, October 22nd. Raymond James lifted their price target 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 report on Wednesday, October 2nd. CIBC increased their price objective on shares of Doman Building Materials Group from C$8.50 to C$9.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Canaccord Genuity Group lifted their target price on Doman Building Materials Group from C$9.00 to C$11.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Finally, National Bankshares increased their price target 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 investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Doman Building Materials Group currently has an average rating of “Buy” and a consensus price target of C$10.93.

Doman Building Materials Group Stock Performance

The firm has a market cap of C$852.82 million, a PE ratio of 13.56 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. The business has a 50 day simple moving average of C$8.54 and a two-hundred day simple moving average of C$7.57.

Doman Building Materials Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th were paid a $0.14 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.56 dividend on an annualized basis and a yield of 5.73%. Doman Building Materials Group’s dividend payout ratio 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.