Dye & Durham (TSE:DND) Stock Price Down 7.2% – Here’s What Happened

Dye & Durham Limited (TSE:DND)’s stock price was down 7.2% on Monday . The stock traded as low as C$2.86 and last traded at C$2.96. Approximately 227,177 shares were traded during mid-day trading, a decline of 28% from the average daily volume of 316,452 shares. The stock had previously closed at C$3.19.

Wall Street Analysts Forecast Growth

DND has been the topic of a number of recent analyst reports. Scotiabank lifted their target price 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. BMO Capital Markets downgraded shares of Dye & Durham from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 14th. CIBC cut shares of Dye & Durham from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from C$16.00 to C$8.50 in a research report on Friday, October 3rd. Cormark dropped their price objective on shares of Dye & Durham from C$17.00 to C$15.00 in a research note on Thursday, September 18th. Finally, Cibc World Mkts cut shares of Dye & Durham from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 3rd. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Dye & Durham presently has a consensus rating of “Moderate Buy” and a consensus price target of C$16.43.

Dye & Durham Stock Performance

The company’s 50-day simple moving average is C$6.08 and its 200-day simple moving average is C$8.66. The stock has a market capitalization of C$200.93 million, a price-to-earnings ratio of -1.23 and a beta of 2.48. The company has a current ratio of 0.32, a quick ratio of 1.98 and a debt-to-equity ratio of 385.35.

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.