Doman Building Materials Group (TSE:DBM) Sets New 1-Year High Following Analyst Upgrade

Shares of Doman Building Materials Group Ltd. (TSE:DBM) 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 company traded as high as C$9.78 and last traded at C$9.78, with a volume of 28252 shares traded. The stock had previously closed at C$9.58.

A number of other equities analysts also recently commented on the stock. CIBC boosted their target price 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. Raymond James upped their price objective 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, 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 company an “outperform” rating in a research note on Monday, October 7th. Canaccord Genuity Group upped their price objective on shares of Doman Building Materials Group from C$9.00 to C$11.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Finally, TD Securities upped their price objective on shares of Doman Building Materials Group from C$11.50 to C$12.00 in a research note on Tuesday, October 22nd. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Doman Building Materials Group currently has a consensus rating of “Buy” and an average price target of C$10.93.

Doman Building Materials Group Stock Up 2.0 %

The stock has a market capitalization of C$852.82 million, a PE ratio of 13.57 and a beta of 1.53. The firm’s fifty day moving average is C$8.54 and its 200-day moving average is C$7.57. 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 Dividend Announcement

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