Scotiabank Increases ADENTRA (TSE:ADEN) Price Target to C$52.50

ADENTRA (TSE:ADEN) had its price objective increased by Scotiabank from C$51.00 to C$52.50 in a research report sent to investors on Tuesday morning, BayStreet.CA reports. Scotiabank currently has an outperform rating on the stock.

A number of other brokerages also recently commented on ADEN. CIBC cut their target price on shares of ADENTRA from C$52.00 to C$51.00 in a research note on Thursday, July 18th. Cormark lifted their price target on shares of ADENTRA from C$51.50 to C$56.50 in a research note on Tuesday. Finally, National Bankshares lifted their price target on shares of ADENTRA from C$51.50 to C$53.00 and gave the stock an outperform rating in a research note on Thursday, June 13th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, ADENTRA has a consensus rating of Buy and a consensus target price of $54.43.

ADENTRA Price Performance

Shares of ADEN stock opened at $41.44 on Tuesday. The company’s fifty day simple moving average is $35.70 and its 200-day simple moving average is $30.26. ADENTRA has a 52 week low of $24.64 and a 52 week high of $45.25.

ADENTRA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, July 26th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.35%. The ex-dividend date was Monday, July 15th. ADENTRA’s dividend payout ratio is currently 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.