Dye & Durham (TSE:DND) Trading Up 11.8% – Here’s Why

Dye & Durham Limited (TSE:DND) was up 11.8% during mid-day trading on Monday . The stock traded as high as C$13.14 and last traded at C$13.14. Approximately 120,816 shares traded hands during mid-day trading, a decline of 34% from the average daily volume of 184,268 shares. The stock had previously closed at C$11.75.

Analysts Set New Price Targets

Several analysts recently weighed in on DND shares. Canaccord Genuity Group reduced their price objective on shares of Dye & Durham from C$27.50 to C$23.00 in a research note on Friday, February 14th. Cormark downgraded shares of Dye & Durham from a “moderate buy” rating to a “hold” rating in a research note on Friday, February 14th. Scotiabank decreased their price target on Dye & Durham from C$25.00 to C$20.00 in a report on Friday, February 14th. CIBC cut their target price on Dye & Durham from C$30.00 to C$25.00 in a research report on Friday, February 14th. Finally, Canaccord Genuity Group increased their price target on Dye & Durham from C$27.00 to C$30.00 in a report on Friday, November 29th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Dye & Durham currently has an average rating of “Moderate Buy” and a consensus target price of C$22.50.

Dye & Durham Price Performance

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 business’s 50 day simple moving average is C$15.99 and its two-hundred day simple moving average is C$16.20. The stock has a market capitalization of C$937.32 million, a P/E ratio of -5.49 and a beta of 2.09.

Insider Transactions at Dye & Durham

In other news, insider Plantro Ltd. sold 1,000,000 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of C$19.15, for a total value of C$19,150,000.00. Also, Director Eric Shahinian acquired 12,300 shares of the business’s stock in a transaction on Tuesday, December 31st. The stock was acquired at an average cost of C$17.35 per share, for a total transaction of C$213,433.29. 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.