Dye & Durham (TSE:DND) Trading 6.4% Higher - Here's Why

Key Points

• Dye & Durham shares jumped 6.4% to C$4.01 (intraday high C$4.04) on Thursday, despite trading volume down ~69% from its average; the company has a market cap of about C$265.3M.
• Analyst moves: CIBC cut its price target from C$8.50 to C$4.50, while the consensus rating remains a “Moderate Buy” with an aggregate price target of C$13.50.
• Fundamentals vs. insider support: the firm reported a C($0.32) EPS last quarter, negative ROE and net margin and a very high debt-to-equity ratio (726.94), yet insiders have bought heavily (1.393M shares in 90 days) and now own 25.6% of the stock.

Dye & Durham Limited (TSE:DND - Get Free Report)'s share price traded up 6.4% on Thursday . The stock traded as high as C$4.04 and last traded at C$4.01. 78,710 shares were traded during mid-day trading, a decline of 69% from the average session volume of 256,285 shares. The stock had previously closed at C$3.77.

Analyst Upgrades and Downgrades

Separately, Canadian Imperial Bank of Commerce lowered their price objective on Dye & Durham from C$8.50 to C$4.50 in a research report on Monday, December 15th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of C$13.50.

Dye & Durham Stock Up 4.8%

The company has a market capitalization of C$265.33 million, a PE ratio of -2.37 and a beta of 2.32. The company has a quick ratio of 1.98, a current ratio of 0.68 and a debt-to-equity ratio of 726.94. The firm has a 50-day moving average of C$4.16 and a two-hundred day moving average of C$4.58.

Dye & Durham (TSE:DND - Get Free Report) last issued its quarterly earnings data on Monday, February 16th. The company reported C($0.32) earnings per share for the quarter. Dye & Durham had a negative return on equity of 43.96% and a negative net margin of 26.66%.The business had revenue of C$107.02 million during the quarter. Equities research analysts predict that Dye & Durham Limited will post 0.1121051 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Alan Roy Hibben purchased 50,000 shares of the firm's stock in a transaction on Wednesday, February 18th. The shares were bought at an average cost of C$3.45 per share, for a total transaction of C$172,500.00. Following the completion of the purchase, the director directly owned 50,000 shares of the company's stock, valued at approximately C$172,500. This trade represents a ∞ increase in their ownership of the stock. Also, insider Plantro Ltd. purchased 714,600 shares of the firm's stock in a transaction on Tuesday, February 10th. The shares were purchased at an average price of C$4.15 per share, for a total transaction of C$2,965,590.00. Following the completion of the purchase, the insider directly owned 8,717,510 shares of the company's stock, valued at C$36,177,666.50. This represents a 8.93% increase in their ownership of the stock. Insiders have acquired 1,393,000 shares of company stock worth $5,469,454 over the last 90 days. 25.60% of the stock is owned by 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.

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