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

Dye & Durham Limited (TSE:DND)’s share price fell 7.2% during trading on Monday . The company traded as low as C$2.86 and last traded at C$2.96. 227,177 shares changed hands during trading, a decline of 28% from the average session volume of 316,452 shares. The stock had previously closed at C$3.19.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. 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 upped their price target on Dye & Durham from C$14.00 to C$16.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. CIBC lowered Dye & Durham from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from C$16.00 to C$8.50 in a research note on Friday, October 3rd. Cibc World Mkts downgraded shares of Dye & Durham from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 3rd. Finally, BMO Capital Markets lowered shares of Dye & Durham from a “strong-buy” rating to a “hold” rating in a report on Friday, November 14th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$16.43.

Dye & Durham Trading Up 3.6%

The firm has a fifty day moving average of C$5.82 and a 200 day moving average of C$8.57. The firm has a market capitalization of C$213.70 million, a PE ratio of -1.30 and a beta of 2.48. The company has a debt-to-equity ratio of 385.35, a quick ratio of 1.98 and a current ratio of 0.32.

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.