Dye & Durham (TSE:DND) Shares Down 17.4% - Here's What Happened

Key Points

• Shares of Dye & Durham Limited (TSE:DND) fell by 17.4% to C$5.46 during trading on Monday, with a notable increase in trading volume.
• Investment analysts have mixed views on the company, with Scotiabank setting a target price of C$16.00, while CIBC lowered its target dramatically to C$8.50 and downgraded their rating to neutral.
• Dye & Durham specializes in cloud-based software and technology solutions for legal and business professionals, operating primarily in Canada and the UK.

Shares of Dye & Durham Limited (TSE:DND - Get Free Report) dropped 17.4% during trading on Monday . The stock traded as low as C$5.41 and last traded at C$5.46. Approximately 423,167 shares traded hands during mid-day trading, an increase of 65% from the average daily volume of 255,799 shares. The stock had previously closed at C$6.61.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DND. Scotiabank boosted their price target 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. Canaccord Genuity Group dropped their target price on Dye & Durham from C$16.00 to C$14.50 and set a "buy" rating on the stock in a report on Wednesday, July 9th. Cormark decreased their price target on Dye & Durham from C$17.00 to C$15.00 in a report on Thursday, September 18th. CIBC cut shares of Dye & Durham from an "outperform" rating to a "neutral" rating and dropped their price objective for the company from C$16.00 to C$8.50 in a research note on Friday, October 3rd. Finally, 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. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of C$16.43.

Dye & Durham Stock Performance

The stock's 50 day moving average price is C$9.17 and its two-hundred day moving average price is C$9.39. The company has a current ratio of 0.32, a quick ratio of 1.98 and a debt-to-equity ratio of 385.35. The firm has a market capitalization of C$369.60 million, a price-to-earnings ratio of -2.25 and a beta of 2.26.

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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