CanWel Building Materials Group (TSE:CWX) Shares Cross Above 200 Day Moving Average of $4.97

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Shares of CanWel Building Materials Group Ltd (TSE:CWX) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $4.97 and traded as high as $5.58. CanWel Building Materials Group shares last traded at $5.53, with a volume of 42,725 shares trading hands.

A number of research analysts have weighed in on the stock. Canaccord Genuity raised their target price on shares of CanWel Building Materials Group from C$4.00 to C$4.75 in a research note on Monday, January 13th. CIBC increased their price target on CanWel Building Materials Group from C$5.00 to C$5.50 in a report on Monday, January 13th. Raymond James set a C$6.00 price target on CanWel Building Materials Group and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Finally, National Bank Financial upgraded CanWel Building Materials Group from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from C$3.75 to C$6.00 in a research report on Friday, December 20th.

The company has a current ratio of 2.57, a quick ratio of 0.94 and a debt-to-equity ratio of 128.41. The firm has a fifty day moving average price of C$5.38 and a 200 day moving average price of C$4.97. The firm has a market cap of $431.59 million and a PE ratio of 30.22.

In other news, Director Amar Doman acquired 20,800 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was purchased at an average price of C$5.40 per share, with a total value of C$112,320.00. Following the completion of the acquisition, the director now owns 129,035 shares of the company’s stock, valued at approximately C$696,789.

CanWel Building Materials Group Company Profile (TSE:CWX)

CanWel Building Materials Group Ltd., through its subsidiaries, distributes building materials and home renovation products in Canada, Hawaii, and the Western United States. It operates through two segments, Building Materials Distribution and Forestry. The company sells decking and railing; engineered wood products; fasteners and adhesives; foundation; insulation and building envelope; interior finishing; lumber, plywood, OSB, and specialty industrial products; roofing and accessories; treated wood; exterior trim and décor products; welded panels; profiles and colors; fusion stones; exterior products; sidings, panels, shingles, and trims; and security and door ware products.

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