Canaccord Genuity Group Cuts ADENTRA (TSE:ADEN) Price Target to C$44.00

ADENTRA (TSE:ADEN) had its target price trimmed by Canaccord Genuity Group from C$50.00 to C$44.00 in a research note issued to investors on Monday morning,BayStreet.CA reports. The firm currently has a buy rating on the stock.

ADEN has been the topic of a number of other reports. Stifel Nicolaus reduced their price objective on shares of ADENTRA from C$51.00 to C$41.00 and set a “buy” rating on the stock in a research report on Monday. Scotiabank reduced their price objective on shares of ADENTRA from C$49.00 to C$43.00 and set an “outperform” rating on the stock in a research report on Monday. Cormark reduced their price objective on shares of ADENTRA from C$55.00 to C$46.00 in a research report on Monday. National Bankshares reduced their price objective on shares of ADENTRA from C$60.00 to C$53.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, Raymond James set a C$60.00 price objective on shares of ADENTRA and gave the stock a “strong-buy” rating in a research report on Friday, December 20th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $48.13.

ADENTRA Trading Up 4.3 %

Shares of TSE ADEN opened at $29.00 on Monday. The firm’s 50-day moving average price is $33.58 and its 200-day moving average price is $37.54. The stock has a market capitalization of $512.03 million, a price-to-earnings ratio of 9.89 and a beta of 1.57. ADENTRA has a 12-month low of $27.37 and a 12-month high of $45.25.

ADENTRA Increases Dividend

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

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.