ADENTRA (TSE:ADEN) Hits New 52-Week Low on Analyst Downgrade

ADENTRA Inc. (TSE:ADEN) hit a new 52-week low on Monday after Canaccord Genuity Group lowered their price target on the stock from C$50.00 to C$44.00. Canaccord Genuity Group currently has a buy rating on the stock. ADENTRA traded as low as $27.77 and last traded at $28.35, with a volume of 133512 shares. The stock had previously closed at $28.64.

ADEN has been the subject of several other reports. CIBC lowered their price objective on shares of ADENTRA from C$49.00 to C$44.00 and set an “outperform” rating for the company in a research note on Monday. Raymond James set a C$60.00 price target on ADENTRA and gave the stock a “strong-buy” rating in a research report on Friday, December 20th. National Bankshares cut their price objective on ADENTRA from C$60.00 to C$53.00 and set an “outperform” rating on the stock in a report on Monday. Stifel Nicolaus decreased their target price on ADENTRA from C$51.00 to C$41.00 and set a “buy” rating for the company in a report on Monday. Finally, Scotiabank dropped their target price on ADENTRA from C$49.00 to C$43.00 and set an “outperform” rating on the stock in a research report on Monday. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $48.13.

ADENTRA Stock Performance

The firm’s 50 day moving average is $33.70 and its 200-day moving average is $37.60. The stock has a market capitalization of $491.02 million, a price-to-earnings ratio of 9.48 and a beta of 1.57.

ADENTRA Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 31st were given a $0.15 dividend. The ex-dividend date of this dividend was Monday, January 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.16%. This is an increase from ADENTRA’s previous quarterly dividend of $0.14. ADENTRA’s dividend 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.