Dye & Durham (TSE:DND) Trading 28.8% Higher - Here's What Happened

Key Points

• Dye & Durham's shares surged by 28.8% during mid-day trading, reaching a high of C$12.13, after closing at C$9.09 the previous day.
• Analysts have generally maintained a positive outlook on the stock, with ratings ranging from "buy" to "outperform," and a consensus price target of C$17.58.
• Recent insider activities include significant share selling by Plantro Ltd. and buying by Senior Officer Avjit Kamboj, indicating mixed insider sentiment.

Shares of Dye & Durham Limited (TSE:DND - Get Free Report) were up 28.8% during mid-day trading on Wednesday . The company traded as high as C$12.13 and last traded at C$11.71. Approximately 1,133,195 shares traded hands during trading, an increase of 379% from the average daily volume of 236,615 shares. The stock had previously closed at C$9.09.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on DND shares. Scotiabank increased their target price on Dye & Durham from C$14.00 to C$16.00 and gave the stock an "outperform" rating in a report on Thursday. BMO Capital Markets lowered their target price on Dye & Durham from C$20.00 to C$16.00 and set an "outperform" rating for the company in a report on Thursday, May 22nd. CIBC lowered their target price on Dye & Durham from C$17.00 to C$16.00 in a report on Monday, July 21st. Cormark upgraded Dye & Durham from a "hold" rating to a "moderate buy" rating in a report on Tuesday, June 3rd. Finally, Canaccord Genuity Group decreased 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. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Dye & Durham has a consensus rating of "Buy" and a consensus target price of C$17.92.

Dye & Durham Price Performance

The business has a 50 day moving average price of C$9.86 and a two-hundred day moving average price of C$10.94. The stock has a market cap of C$752.78 million, a PE ratio of -4.41 and a beta of 2.09. The company has a debt-to-equity ratio of 385.35, a quick ratio of 1.98 and a current ratio of 0.32.

Insider Activity at Dye & Durham

In other Dye & Durham news, Senior Officer Avjit Kamboj purchased 10,681 shares of the stock in a transaction on Monday, June 23rd. The stock was acquired at an average cost of C$9.36 per share, with a total value of C$99,974.16. Also, insider Plantro Ltd. sold 350,000 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of C$10.29, for a total transaction of C$3,599,750.00. Over the last ninety days, insiders purchased 247,681 shares of company stock valued at $2,428,784. 25.60% of the stock is owned by insiders.

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.