Canaccord Genuity Group Issues Pessimistic Forecast for Dye & Durham (TSE:DND) Stock Price

Dye & Durham (TSE:DND) had its price objective lowered by investment analysts at Canaccord Genuity Group from C$27.50 to C$23.00 in a research note issued to investors on Friday,BayStreet.CA reports. Canaccord Genuity Group’s price objective suggests a potential upside of 69.12% from the company’s previous close.

Several other analysts have also commented on the company. BMO Capital Markets cut their price objective on Dye & Durham from C$22.00 to C$20.00 in a report on Friday. Scotiabank lowered their price objective on Dye & Durham from C$25.00 to C$20.00 in a research report on Friday. CIBC reduced their target price on Dye & Durham from C$30.00 to C$25.00 in a report on Friday. Finally, Canaccord Genuity Group lifted their target price on Dye & Durham from C$27.00 to C$30.00 in a report on Friday, November 29th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$22.50.

Dye & Durham Stock Performance

Shares of DND traded down C$0.15 during trading hours on Friday, hitting C$13.60. The stock had a trading volume of 237,793 shares, compared to its average volume of 155,497. The company has a debt-to-equity ratio of 385.35, a current ratio of 0.32 and a quick ratio of 1.98. Dye & Durham has a 12 month low of C$10.92 and a 12 month high of C$22.59. The firm has a market capitalization of C$947.07 million, a PE ratio of -5.55 and a beta of 2.09. The stock has a fifty day moving average price of C$16.89 and a 200 day moving average price of C$16.18.

Insiders Place Their Bets

In related news, Director Eric Shahinian acquired 12,300 shares of Dye & Durham stock in a transaction on Tuesday, December 31st. The shares were bought at an average cost of C$17.35 per share, with a total value of C$213,433.29. Also, insider Plantro Ltd. sold 1,778,900 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of C$15.16, for a total value of C$26,967,768.22. 25.60% of the stock is currently owned by insiders.

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.