Doman Building Materials Group (TSE:DBM) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

Doman Building Materials Group Ltd. (TSE:DBM)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$8.29 and traded as high as C$9.62. Doman Building Materials Group shares last traded at C$9.45, with a volume of 111,921 shares traded.

Wall Street Analysts Forecast Growth

DBM has been the subject of a number of research analyst reports. TD Securities lifted their price target on shares of Doman Building Materials Group from C$10.00 to C$11.00 and gave the stock a “buy” rating in a research note on Friday, August 8th. Raymond James Financial boosted their target price on shares of Doman Building Materials Group from C$10.00 to C$11.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Doman Building Materials Group presently has an average rating of “Moderate Buy” and an average price target of C$10.19.

Doman Building Materials Group Trading Down 1.2%

The company has a market cap of C$828.11 million, a price-to-earnings ratio of 11.12 and a beta of 1.36. The company has a debt-to-equity ratio of 112.91, a current ratio of 2.94 and a quick ratio of 1.11. The firm’s fifty day moving average price is C$9.37 and its 200-day moving average price is C$8.29.

About Doman Building Materials Group

Doman Building Materials Group Ltd is a wholesale distributor of building materials and home renovation products. The company services the new home construction, home renovation and industrial markets by supplying the retail and wholesale lumber and building materials industry, hardware stores, industrial and furniture manufacturers and similar concerns.