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

Doman Building Materials Group Ltd. (TSE:DBM)’s share price 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 stock 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.

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

Doman Building Materials Group Stock Up 2.0 %

The firm has a market capitalization of C$852.82 million, a price-to-earnings 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 company’s 50 day moving average price is C$8.54 and its 200 day moving average price is C$7.57.

Doman Building Materials Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.73%. The ex-dividend date was Friday, September 27th. Doman Building Materials Group’s dividend payout ratio is presently 77.78%.

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.