ADENTRA (TSE:ADEN) Reaches New 52-Week High Following Analyst Upgrade

ADENTRA Inc. (TSE:ADEN) hit a new 52-week high on Tuesday after CIBC raised their price target on the stock from C$51.00 to C$52.00. CIBC currently has an outperform rating on the stock. ADENTRA traded as high as $44.51 and last traded at $43.93, with a volume of 102642 shares traded. The stock had previously closed at $40.93.

Several other brokerages have also recently weighed in on ADEN. National Bankshares boosted their price objective on ADENTRA from C$51.50 to C$53.00 and gave the stock an “outperform” rating in a research note on Thursday, June 13th. Cormark boosted their price target on ADENTRA from C$51.50 to C$56.50 in a report on Tuesday. Stifel Nicolaus boosted their price target on ADENTRA from C$50.00 to C$55.00 and gave the company a “buy” rating in a report on Tuesday. Scotiabank boosted their price target on ADENTRA from C$51.00 to C$52.50 and gave the company an “outperform” rating in a report on Tuesday. Finally, Acumen Capital boosted their price target on ADENTRA from C$54.00 to C$56.00 and gave the company a “buy” rating in a report on Tuesday. Five research analysts have rated the stock with a buy rating, According to MarketBeat, ADENTRA currently has an average rating of “Buy” and an average target price of $54.43.

ADENTRA Price Performance

The business has a fifty day moving average of $34.48 and a 200 day moving average of $29.80.

ADENTRA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, July 26th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date was Monday, July 15th. ADENTRA’s dividend payout ratio is presently 19.67%.

About ADENTRA

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.