Dye & Durham (TSE:DND) Downgraded to "Neutral" Rating by CIBC

Key Points

• Dye & Durham was downgraded from an "outperform" to a "neutral" rating by CIBC, with a new price objective lowered to C$8.50.
• The stock has seen a 4.9% decrease, trading at C$6.92 while having a 1-year high of C$22.59.
• Current consensus rating for Dye & Durham stands at "Moderate Buy", with an average price target of C$16.43.

Dye & Durham (TSE:DND - Get Free Report) was downgraded by equities researchers at CIBC from an "outperform" rating to a "neutral" rating in a report released on Friday,BayStreet.CA reports. They currently have a C$8.50 price objective on the stock, down from their previous price objective of C$16.00. CIBC's price target points to a potential upside of 22.83% from the stock's current price.

Other equities analysts have also recently issued reports about the company. Canaccord Genuity Group cut their price objective 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. Cormark lowered their target price on shares of Dye & Durham from C$17.00 to C$15.00 in a report on Thursday, September 18th. Scotiabank increased their price objective 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. Finally, Raymond James Financial decreased their target price on shares of Dye & Durham from C$17.00 to C$15.00 and set an "outperform" rating for the company in a research report on Wednesday, July 16th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Dye & Durham currently has a consensus rating of "Moderate Buy" and an average price target of C$16.43.

Dye & Durham Stock Down 4.9%

Shares of Dye & Durham stock traded down C$0.36 during trading on Friday, reaching C$6.92. 544,583 shares of the company traded hands, compared to its average volume of 241,698. Dye & Durham has a 1-year low of C$6.84 and a 1-year high of C$22.59. The company has a 50 day moving average price of C$9.94 and a 200-day moving average price of C$9.77. 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 capitalization of C$465.02 million, a PE ratio of -2.84 and a beta of 2.25.

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.

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