Dye & Durham (TSE:DND) Stock Price Expected to Rise, Scotiabank Analyst Says

Key Points

• Scotiabank has raised its price target for Dye & Durham (TSE:DND) from C$14.00 to C$16.00, indicating a potential upside of 41.97% from the current price, and maintains an "outperform" rating for the stock.
• Multiple analysts have varied their price targets for Dye & Durham, with BMO Capital Markets setting a new target of C$16.00 and five analysts rating the stock as a "buy".
• Dye & Durham's share price recently decreased by 2.7%, closing at C$11.27, and the company has seen significant insider activity, including recent share purchases valued at $2.4 million.

Dye & Durham (TSE:DND - Get Free Report) had its price target lifted by investment analysts at Scotiabank from C$14.00 to C$16.00 in a research report issued on Thursday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. Scotiabank's target price would indicate a potential upside of 48.01% from the company's current price.

A number of other equities research analysts have also recently issued reports on the company. Canaccord Genuity Group cut their target price 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. Raymond James Financial cut 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 note on Wednesday, July 16th. CIBC lowered their price target on Dye & Durham from C$17.00 to C$16.00 in a report on Monday, July 21st. BMO Capital Markets lowered 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. Finally, Cormark raised Dye & Durham from a "hold" rating to a "moderate buy" rating in a report on Tuesday, June 3rd. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Dye & Durham currently has an average rating of "Buy" and a consensus price target of C$17.92.

Dye & Durham Stock Performance

DND stock traded down C$0.38 during mid-day trading on Thursday, reaching C$10.81. The company had a trading volume of 139,260 shares, compared to its average volume of 239,581. The company has a quick ratio of 1.98, a current ratio of 0.32 and a debt-to-equity ratio of 385.35. The stock has a market capitalization of C$752.78 million, a P/E ratio of -4.41 and a beta of 2.09. Dye & Durham has a one year low of C$7.85 and a one year high of C$22.59. The stock's 50-day simple moving average is C$9.86 and its two-hundred day simple moving average is C$10.91.

Insiders Place Their Bets

In other news, Senior Officer Avjit Kamboj bought 10,681 shares of the stock in a transaction that occurred on Monday, June 23rd. The shares were purchased 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 Dye & Durham stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of C$10.29, for a total value of C$3,599,750.00. Insiders have bought 247,681 shares of company stock worth $2,428,784 over the last three months. Corporate insiders own 25.60% of the company's stock.

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.