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

ADENTRA Inc. (TSE:ADEN) reached a new 52-week high during trading 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 changing hands. The stock had previously closed at $40.93.

A number of other equities analysts have also weighed in on the company. Scotiabank upped their target price on ADENTRA from C$51.00 to C$52.50 and gave the stock an “outperform” rating in a research note on Tuesday. National Bankshares upped their target price 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. Acumen Capital upped their target price on ADENTRA from C$54.00 to C$56.00 and gave the stock a “buy” rating in a research note on Tuesday. Stifel Nicolaus upped their target price on ADENTRA from C$50.00 to C$55.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Cormark increased their price objective on ADENTRA from C$51.50 to C$56.50 in a research report on Tuesday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, ADENTRA has a consensus rating of “Buy” and a consensus target price of $54.43.

ADENTRA Trading Up 9.7 %

The firm has a 50-day moving average of $34.48 and a 200-day moving average of $29.80.

ADENTRA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, July 26th were given a dividend of $0.14 per share. The ex-dividend date was Monday, July 15th. This represents a $0.56 annualized dividend and a yield of 1.25%. ADENTRA’s payout ratio is 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.