CIBC Downgrades Dye & Durham (TSE:DND) to Neutral

Dye & Durham (TSE:DND) was downgraded by equities researchers at CIBC from an “outperform” rating to a “neutral” rating in a research note issued on Friday,BayStreet.CA reports. They presently have a C$8.50 price objective on the stock, down from their previous price objective of C$16.00. CIBC’s price target would suggest a potential upside of 21.43% from the stock’s previous close.

Several other research analysts also recently commented on DND. Scotiabank increased their price objective on Dye & Durham from C$14.00 to C$16.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. 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 research note on Wednesday, July 9th. Cormark reduced their price objective on Dye & Durham from C$17.00 to C$15.00 in a research note on Thursday, September 18th. Finally, Raymond James Financial reduced their price objective 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. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Dye & Durham has an average rating of “Moderate Buy” and an average target price of C$16.43.

Dye & Durham Stock Down 3.8%

TSE DND opened at C$7.00 on Friday. The business has a fifty day moving average price of C$9.90 and a 200 day moving average price of C$9.71. Dye & Durham has a one year low of C$6.84 and a one year high of C$22.59. 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 company has a market cap of C$470.40 million, a P/E ratio of -2.87 and a beta of 2.25.

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.