Doman Building Materials Group (TSE:DBM) Sets New 1-Year High – Here’s What Happened

Doman Building Materials Group Ltd. (TSE:DBM) hit a new 52-week high during trading on Monday . The company traded as high as C$9.16 and last traded at C$9.16, with a volume of 127264 shares changing hands. The stock had previously closed at C$8.71.

Analysts Set New Price Targets

A number of research firms have weighed in on DBM. Canaccord Genuity Group lifted their price objective on 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. Stifel Nicolaus boosted their price target on Doman Building Materials Group from C$9.25 to C$10.00 and gave the company a “buy” rating in a report on Thursday, October 17th. TD Securities raised 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. Raymond James boosted their target price 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. Finally, CIBC raised their price target 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 report on Wednesday, October 2nd. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Doman Building Materials Group presently has an average rating of “Buy” and an average price target of C$10.64.

Doman Building Materials Group Stock Performance

The firm’s fifty day moving average is C$8.14 and its 200-day moving average is C$7.48. 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 stock has a market capitalization of C$794.34 million, a PE ratio of 12.64 and a beta of 1.53.

Doman Building Materials Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th were paid a $0.14 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 6.15%. Doman Building Materials Group’s 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.