Royal Bank of Canada Issues Pessimistic Forecast for Doman Building Materials Group (TSE:DBM) Stock Price

Doman Building Materials Group (TSE:DBM) had its price objective dropped by analysts at Royal Bank of Canada from C$11.00 to C$10.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 47.49% from the stock’s previous close.

Other analysts also recently issued reports about the company. Stifel Nicolaus lowered their price target on Doman Building Materials Group from C$9.00 to C$8.00 and set a “buy” rating for the company in a report on Thursday, April 17th. TD Securities set a C$9.50 target price on Doman Building Materials Group and gave the company a “buy” rating in a research note on Tuesday, March 25th. Raymond James dropped their target price on Doman Building Materials Group from C$12.00 to C$11.50 in a report on Thursday, January 30th. Finally, CIBC lowered their price objective on shares of Doman Building Materials Group from C$11.50 to C$9.50 and set an “outperform” rating for the company in a research report on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of C$9.93.

Doman Building Materials Group Price Performance

DBM opened at C$6.78 on Tuesday. Doman Building Materials Group has a 52-week low of C$6.30 and a 52-week high of C$9.96. The company has a 50 day moving average of C$6.97 and a two-hundred day moving average of C$8.08. The company has a market cap of C$592.57 million, a P/E ratio of 10.48 and a beta of 1.53. The company has a quick ratio of 1.11, a current ratio of 2.94 and a debt-to-equity ratio of 112.91.

Insider Activity

In related news, Director Marc Seguin bought 10,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of C$6.93 per share, with a total value of C$69,300.00. Company insiders own 20.04% of the company’s stock.

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.