Royal Bank of Canada Cuts Dorel Industries (TSE:DII.B) Price Target to C$6.00

Dorel Industries (TSE:DII.B) had its price target decreased by equities researchers at Royal Bank of Canada from C$14.00 to C$6.00 in a report issued on Tuesday, BayStreet.CA reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 12.57% from the company’s current price.

Several other brokerages also recently issued reports on DII.B. BMO Capital Markets reduced their price objective on Dorel Industries from C$11.00 to C$8.50 in a research report on Thursday, October 3rd. TD Securities downgraded Dorel Industries from a “buy” rating to a “hold” rating and reduced their price objective for the company from C$13.00 to C$7.50 in a research report on Thursday, October 3rd.

Shares of TSE:DII.B traded up C$0.17 on Tuesday, hitting C$5.33. The company had a trading volume of 79,076 shares, compared to its average volume of 32,456. The company has a current ratio of 1.02, a quick ratio of 0.38 and a debt-to-equity ratio of 129.21. Dorel Industries has a 52-week low of C$4.65 and a 52-week high of C$22.87. The business has a 50 day moving average of C$7.37 and a 200 day moving average of C$9.81. The company has a market cap of $145.80 million and a PE ratio of -0.39.

About Dorel Industries

Dorel Industries Inc designs, manufactures, sources, markets, and distributes juvenile products, bicycles, and furniture worldwide. The company's Dorel Home segment engages in the design, manufacture, sourcing, and distribution of ready-to assemble furniture and home furnishings, including metal folding furniture, children's furniture, step stool, hand truck, ladder, outdoor furniture, and other imported furniture and futon products.

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