Scotiabank Cuts ADENTRA (TSE:ADEN) Price Target to C$43.00

ADENTRA (TSE:ADEN) had its price objective trimmed by Scotiabank from C$49.00 to C$43.00 in a research report report published on Monday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

Other equities analysts have also recently issued research reports about the company. CIBC lowered their target price on ADENTRA from C$49.00 to C$44.00 and set an “outperform” rating for the company in a report on Monday. Cormark lowered their target price on ADENTRA from C$55.00 to C$46.00 in a report on Monday. Raymond James set a C$60.00 price target on ADENTRA and gave the company a “strong-buy” rating in a research report on Friday, December 20th. Finally, National Bankshares reduced their price target on ADENTRA from C$60.00 to C$53.00 and set an “outperform” rating on the stock in a research report on Monday. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $48.13.

ADENTRA Stock Up 4.3 %

Shares of ADEN opened at $29.00 on Monday. ADENTRA has a 12-month low of $27.37 and a 12-month high of $45.25. The business has a 50-day simple moving average of $33.58 and a two-hundred day simple moving average of $37.54. The stock has a market cap of $512.03 million, a PE ratio of 9.89 and a beta of 1.57.

ADENTRA Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 31st were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Monday, January 20th. This is a positive change from ADENTRA’s previous quarterly dividend of $0.14. ADENTRA’s payout ratio is 19.10%.

ADENTRA Company Profile

ADENTRA Inc engages in the wholesale distribution of architectural building products to the residential, repair and remodel, and commercial construction markets in Canada and the United States. It offers doors, decorative surfaces, moldings, stair parts, hardwood lumber, hardwood plywood, composite panels, and other building products to industrial manufacturers, home builder distribution yards, and home centers.