Dye & Durham (TSE:DND) Trading Up 28.8% - Here's Why

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.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on DND shares. Canaccord Genuity Group dropped their price target on Dye & Durham from C$16.00 to C$14.50 and set a "buy" rating on the stock in a research note on Wednesday, July 9th. BMO Capital Markets reduced their price target on Dye & Durham from C$20.00 to C$16.00 and set an "outperform" rating on the stock in a report on Thursday, May 22nd. CIBC dropped their price target on Dye & Durham from C$17.00 to C$16.00 in a research note on Monday, July 21st. Scotiabank upped their target price on Dye & Durham from C$14.00 to C$16.00 and gave the stock an "outperform" rating in a research report on Thursday. Finally, Raymond James Financial lowered their price target on 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. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of C$17.92.

Dye & Durham Stock Performance

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 business has a 50-day moving average of C$9.85 and a 200 day moving average of C$11.02. The company has a market cap of C$776.46 million, a PE ratio of -4.55 and a beta of 2.09.

Insider Activity

In related news, insider Plantro Ltd. sold 350,000 shares of the stock in a transaction that occurred 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. Also, Senior Officer Avjit Kamboj acquired 10,681 shares of the stock in a transaction dated Monday, June 23rd. The stock was bought at an average cost of C$9.36 per share, with a total value of C$99,974.16. Insiders have purchased 247,681 shares of company stock valued at $2,428,784 in the last quarter. 25.60% of the stock is currently owned by company insiders.

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.