Dye & Durham (TSE:DND) Shares Up 24.1% - Time to Buy?

Key Points

• Shares jumped 24.1% intraday to C$3.45 on heavy trading (1,160,013 shares, a 258% increase vs. average), up from a C$2.78 close.
• Analyst sentiment is mixed — three Buys and three Holds give a consensus rating of "Moderate Buy" with a consensus price target of C$14.17, well above the current level.
• The company shows financial risks, including a very high debt-to-equity ratio (385.35), a low current ratio (0.32) and a negative P/E (-1.56), despite a C$255.4M market cap.

Shares of Dye & Durham Limited (TSE:DND - Get Free Report) shot up 24.1% during mid-day trading on Monday . The company traded as high as C$3.47 and last traded at C$3.45. 1,160,013 shares changed hands during mid-day trading, an increase of 258% from the average session volume of 323,718 shares. The stock had previously closed at C$2.78.

Wall Street Analysts Forecast Growth

DND has been the subject of several recent analyst reports. Cibc World Mkts downgraded shares of Dye & Durham from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 3rd. Cormark reduced their price target on Dye & Durham from C$17.00 to C$15.00 in a report on Thursday, September 18th. BMO Capital Markets lowered Dye & Durham from a "strong-buy" rating to a "hold" rating in a research report on Friday, November 14th. Finally, CIBC lowered Dye & Durham from an "outperform" rating to a "neutral" rating and cut their price objective for the stock from C$16.00 to C$8.50 in a research report on Friday, October 3rd. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Dye & Durham presently has an average rating of "Moderate Buy" and a consensus price target of C$14.17.

Dye & Durham Stock Performance

The company has a 50-day simple moving average of C$4.96 and a two-hundred day simple moving average of C$8.22. The company has a debt-to-equity ratio of 385.35, a quick ratio of 1.98 and a current ratio of 0.32. The firm has a market capitalization of C$255.36 million, a P/E ratio of -1.56 and a beta of 2.46.

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.

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