Dye & Durham (TSE:DND) Stock Price Down 12.4% – Here’s Why

Dye & Durham Limited (TSE:DND) fell 12.4% during mid-day trading on Friday . The stock traded as low as C$3.36 and last traded at C$3.38. 445,626 shares changed hands during mid-day trading, an increase of 51% from the average session volume of 295,855 shares. The stock had previously closed at C$3.86.

Analysts Set New Price Targets

DND has been the subject of a number of research analyst reports. Cormark cut their price objective on shares of Dye & Durham from C$17.00 to C$15.00 in a research report on Thursday, September 18th. Scotiabank boosted their price objective on Dye & Durham from C$14.00 to C$16.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. CIBC cut Dye & Durham from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from C$16.00 to C$8.50 in a research report on Friday, October 3rd. Finally, Cibc World Mkts lowered shares of Dye & Durham from a “strong-buy” rating to a “hold” rating in a report on Friday, October 3rd. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$16.43.

Dye & Durham Stock Performance

The company has a quick ratio of 1.98, a current ratio of 0.32 and a debt-to-equity ratio of 385.35. The stock has a fifty day simple moving average of C$7.02 and a 200-day simple moving average of C$8.92. The company has a market capitalization of C$221.09 million, a P/E ratio of -1.35 and a beta of 2.48.

About Dye & Durham

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.