Dye & Durham (TSE:DND) Shares Down 12.4% – Here’s What Happened

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

Wall Street Analyst Weigh In

A number of research firms recently issued reports on DND. Cibc World Mkts cut Dye & Durham from a “strong-buy” rating to a “hold” rating in a report on Friday, October 3rd. CIBC cut shares of Dye & Durham from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from C$16.00 to C$8.50 in a research report on Friday, October 3rd. Scotiabank upped their target price on shares of Dye & Durham from C$14.00 to C$16.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Finally, Cormark decreased their price target on shares of Dye & Durham from C$17.00 to C$15.00 in a research note on Thursday, September 18th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Dye & Durham presently has an average rating of “Moderate Buy” and an average price target of C$16.43.

Dye & Durham Stock Performance

The stock has a market capitalization of C$221.09 million, a price-to-earnings ratio of -1.35 and a beta of 2.48. 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 stock has a 50-day moving average of C$7.02 and a 200 day moving average of C$8.92.

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.