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Doman Building Materials Group Ltd T.DBM

Alternate Symbol(s):  CWXZF

Doman Building Materials Group Ltd. is an integrated national distributor in the building materials and related products sector. The Company operates various distinct divisions with multiple treating plants, planing and specialty facilities and distribution centers coast-to-coast in various cities across Canada and select locations across the United States. The Company operates 21 treating plants, two specialty planing mills and five specialty sawmills located in nine states, distributing, producing and treating lumber, fencing and building materials servicing the central United States; it serves the United States west coast with multiple locations in California and Oregon; and in the state of Hawaii the Honsador Building Products Group services 15 locations across all the islands. The Company’s Canadian operations also include ownership and management of private timberlands and forest licenses, and agricultural post-peeling and pressure treating through its Doman Timber operations.


TSX:DBM - Post by User

Comment by okgonowon May 22, 2024 12:34am
149 Views
Post# 36051281

RE:Positive Sign

RE:Positive SignThe Globe and Mail reports in its Wednesday, May 15, edition that Canaccord Genuity analyst Yuri Zoreda is sticking with her "buy" recommendation for Doman Building Materials Group. The Globe's David Leeder writes in the Eye On Equities column that Ms. Zoreda trimmed her share target to $9 from $10. Analysts on average target the shares at $9.88. Ms. Zoreda says in a note: "Results came in shy of our expectations on a soft top line impacted by the slowing North American housing market. However, we like the company's positioning in the North American building products distribution space given the secular demand drivers we see in the long term, the company's structurally higher and more stable gross margins on management's focus on value-added products (particularly pressure treated wood), and its attractive 7.5-per-cent dividend yield. We see good valuation upside with the stock down 9 per cent year-to-date against the 17-per-cent increase in the S&P500 building products index and trading at 10.2 times 2024 EPS vs. peers at 12.5 times." The Globe reported on April 4 that Raymond James analyst Daryl Swetlishoff rated Doman Building "strong buy." The shares could then be had for $8.22.
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