Doman Building Materials Group (TSE:DBM) Trading 6.5% Higher After Analyst Upgrade

Doman Building Materials Group Ltd. (TSE:DBM)’s share price traded up 6.5% on Wednesday 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$8.40 and last traded at C$8.35. 70,080 shares traded hands during trading, a decline of 62% from the average session volume of 185,498 shares. The stock had previously closed at C$7.84.

Several other equities analysts have also recently weighed in on DBM. Stifel Nicolaus boosted their price objective on Doman Building Materials Group from C$9.00 to C$9.25 and gave the stock a “buy” rating in a research report on Wednesday. National Bankshares cut their price target on Doman Building Materials Group from C$10.50 to C$8.50 and set an “outperform” rating for the company in a report on Tuesday, August 13th. Royal Bank of Canada reduced their price objective on Doman Building Materials Group from C$10.00 to C$9.00 in a research report on Thursday, July 11th. CIBC upped their target price 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. Finally, Raymond James increased 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. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of C$9.71.

Doman Building Materials Group Stock Up 1.3 %

The company has a current ratio of 3.78, a quick ratio of 1.11 and a debt-to-equity ratio of 132.33. The business’s fifty day moving average price is C$7.21 and its 200 day moving average price is C$7.38. The company has a market capitalization of C$770.77 million, a P/E ratio of 12.26 and a beta of 1.52.

Doman Building Materials Group (TSE:DBM) last announced its quarterly earnings results on Friday, August 9th. The company reported C$0.20 EPS for the quarter, missing the consensus estimate of C$0.22 by C($0.02). Doman Building Materials Group had a net margin of 2.56% and a return on equity of 10.63%. The company had revenue of C$689.83 million during the quarter, compared to analyst estimates of C$742.90 million. As a group, equities research analysts predict that Doman Building Materials Group Ltd. will post 0.7751004 earnings per share for the current fiscal year.

Doman Building Materials Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 6.34%. The ex-dividend date of this dividend is Friday, September 27th. Doman Building Materials Group’s payout ratio is 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.