Acadian Timber (TSE:ADN) had its price target dropped by investment analysts at CIBC from C$17.00 to C$16.00 in a note issued to investors on Monday. The firm presently has an “average” rating on the stock. CIBC’s price target suggests a potential upside of 7.60% from the stock’s current price.
Several other brokerages have also recently issued reports on ADN. Royal Bank of Canada raised Acadian Timber from a “sector perform” rating to an “outperform” rating and reduced their price objective for the stock from C$19.00 to C$18.00 in a report on Tuesday, January 8th. Raymond James reaffirmed an “outperform” rating and set a C$22.00 price objective on shares of Acadian Timber in a report on Thursday, November 1st.
Shares of Acadian Timber stock traded down C$0.16 during trading on Monday, reaching C$14.87. The company’s stock had a trading volume of 11,270 shares, compared to its average volume of 19,045. The company has a debt-to-equity ratio of 33.14, a quick ratio of 2.23 and a current ratio of 2.33. Acadian Timber has a 12-month low of C$14.25 and a 12-month high of C$20.24.
In other Acadian Timber news, Director Philip James Brown purchased 2,000 shares of Acadian Timber stock in a transaction that occurred on Friday, November 23rd. The stock was purchased at an average price of C$15.77 per share, with a total value of C$31,540.00. Also, Director Saul Shulman purchased 5,000 shares of Acadian Timber stock in a transaction that occurred on Wednesday, November 28th. The stock was acquired at an average cost of C$15.55 per share, with a total value of C$77,750.00. Insiders purchased 117,000 shares of company stock valued at $1,704,090 in the last three months.
About Acadian Timber
Acadian Timber Corp. supplies primary forest products in Eastern Canada and the Northeastern United States. The company operates in two segments, NB Timberlands and Maine Timberlands. Its products include softwood and hardwood sawlogs, pulpwood, and biomass by-products. The company owns and manages approximately 1.1 million acres of freehold timberlands in New Brunswick and Maine; and provides management services relating to approximately 1.3 million acres of Crown licensed timberlands.
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