Dye & Durham (TSE:DND) Trading Down 14.2% - What's Next?

Key Points

• Dye & Durham's share price plummeted 14.2% to C$8.87 on Tuesday, marking a significant decrease from its previous close of C$10.34.
• Analysts have mixed ratings on the stock, with a consensus rating of "Buy" and a target price of C$17.92, though several have lowered their price objectives recently.
• Insider buying occurred as Senior Officer Avjit Kamboj purchased 10,681 shares at C$9.36 each, indicating some internal confidence in the company's future.

Dye & Durham Limited (TSE:DND - Get Free Report)'s share price fell 14.2% on Tuesday . The company traded as low as C$8.10 and last traded at C$8.87. 657,342 shares were traded during mid-day trading, an increase of 192% from the average session volume of 225,021 shares. The stock had previously closed at C$10.34.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Canaccord Genuity Group reduced 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. Cormark upgraded Dye & Durham from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, June 3rd. Raymond James Financial lowered their target price on Dye & Durham from C$17.00 to C$15.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 16th. CIBC reduced their price objective on Dye & Durham from C$17.00 to C$16.00 in a research note on Monday, July 21st. Finally, Scotiabank raised 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, July 31st. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Dye & Durham presently has a consensus 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 quick ratio of 1.98 and a current ratio of 0.32. The stock has a market capitalization of C$592.70 million, a P/E ratio of -3.61 and a beta of 2.25. The company's fifty day simple moving average is C$10.31 and its two-hundred day simple moving average is C$10.15.

Insiders Place Their Bets

In other news, Senior Officer Avjit Kamboj purchased 10,681 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The shares were acquired at an average cost of C$9.36 per share, for a total transaction of C$99,974.16. Company insiders own 25.60% of the company's stock.

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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