CIBC Downgrades Dye & Durham (TSE:DND) to Neutral

CIBC lowered shares of Dye & Durham (TSE:DND) from an outperform rating to a neutral rating in a report published on Friday morning,BayStreet.CA reports. CIBC currently has C$8.50 target price on the stock, down from their prior target price of C$16.00.

Other analysts also recently issued research reports about the stock. Raymond James Financial lowered their target price on shares of Dye & Durham from C$17.00 to C$15.00 and set an “outperform” rating on the stock in a report on Wednesday, July 16th. Scotiabank lifted their price objective on Dye & Durham from C$14.00 to C$16.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Cormark dropped their target price on Dye & Durham from C$17.00 to C$15.00 in a research report on Thursday, September 18th. Finally, Canaccord Genuity Group reduced their price target on Dye & Durham from C$16.00 to C$14.50 and set a “buy” rating for the company in a report on Wednesday, July 9th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$16.43.

Dye & Durham Stock Performance

TSE:DND opened at C$7.00 on Friday. The company has a debt-to-equity ratio of 385.35, a current ratio of 0.32 and a quick ratio of 1.98. The firm has a market cap of C$470.40 million, a price-to-earnings ratio of -2.87 and a beta of 2.26. The firm’s fifty day moving average price is C$9.90 and its 200 day moving average price is C$9.69. Dye & Durham has a 1-year low of C$6.84 and a 1-year high of C$22.59.

Dye & Durham Company Profile

Dye & Durham Ltd is engaged in providing cloud-based software and technology solutions designed to improve efficiency and increase productivity for legal and business professionals. The company has business operations in Canada and the United Kingdom. The customers include law firms, financial service institutions, and government organizations.