Scotiabank Forecasts Strong Price Appreciation for Dye & Durham (TSE:DND) Stock

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 boosted by investment analysts at Scotiabank from C$14.00 to C$16.00 in a research note issued on Thursday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the stock. Scotiabank's price objective suggests a potential upside of 41.97% from the company's current price.

Several other research analysts have also recently commented on the company. 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 research note on Thursday, May 22nd. Cormark raised Dye & Durham from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, June 3rd. Canaccord Genuity Group lowered their target price on Dye & Durham from C$16.00 to C$14.50 and set a "buy" rating for the company in a research note on Wednesday, July 9th. CIBC lowered their target price on Dye & Durham from C$17.00 to C$16.00 in a research note on Monday, July 21st. Finally, Raymond James Financial lowered their target price on Dye & Durham from C$17.00 to C$15.00 and set an "outperform" rating for the company in a research note on Wednesday, July 16th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of C$17.92.

Dye & Durham Trading Down 2.7%

Shares of DND stock traded down C$0.31 on Thursday, hitting C$11.27. The stock had a trading volume of 252,078 shares, compared to its average volume of 239,580. 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 firm has a market capitalization of C$784.82 million, a P/E ratio of -4.60 and a beta of 2.09. Dye & Durham has a 1 year low of C$7.85 and a 1 year high of C$22.59. The company's 50 day moving average price is C$9.81 and its 200-day moving average price is C$11.06.

Insider Activity at Dye & Durham

In other 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 bought 10,681 shares of the business's stock in a transaction dated Monday, June 23rd. The shares were acquired at an average cost of C$9.36 per share, with a total value of C$99,974.16. Insiders have bought 247,681 shares of company stock valued at $2,428,784 in the last 90 days. Company 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.

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