Scotiabank Has Lowered Expectations for ADENTRA (TSE:ADEN) Stock Price

ADENTRA (TSE:ADEN) had its target price reduced by analysts at Scotiabank from C$49.00 to C$43.00 in a research note issued to investors on Monday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock.

A number of other analysts have also weighed in on ADEN. National Bankshares cut their target price on shares of ADENTRA from C$60.00 to C$53.00 in a research note on Monday. Raymond James set a C$60.00 target price on shares of ADENTRA and gave the stock a “strong-buy” rating in a research report on Friday, December 20th. Cormark cut their target price on shares of ADENTRA from C$55.00 to C$46.00 in a research report on Monday. Finally, CIBC reduced their price target on ADENTRA from C$49.00 to C$44.00 and set an “outperform” rating on the stock in a research note on Monday. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $48.13.

ADENTRA Price Performance

Shares of TSE:ADEN traded down $0.48 during mid-day trading on Monday, reaching $28.16. 147,672 shares of the company were exchanged, compared to its average volume of 61,657. The firm has a market cap of $497.20 million, a price-to-earnings ratio of 9.60 and a beta of 1.57. The firm’s 50-day simple moving average is $34.05 and its 200 day simple moving average is $37.79. ADENTRA has a 1 year low of $27.77 and a 1 year high of $45.25.

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.