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

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

Several other brokerages also recently weighed in on ADEN. National Bankshares dropped their target price on shares of ADENTRA from C$60.00 to C$53.00 and set an “outperform” rating for the company in a report 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 report on Friday, December 20th. CIBC dropped their target price on shares of ADENTRA from C$49.00 to C$44.00 and set an “outperform” rating for the company in a report on Monday. Stifel Nicolaus dropped their target price on shares of ADENTRA from C$51.00 to C$41.00 and set a “buy” rating for the company in a report on Monday. Finally, Scotiabank dropped their price objective on shares of ADENTRA from C$49.00 to C$43.00 and set an “outperform” rating for the company in a report on Monday. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $48.13.

ADENTRA Stock Performance

Shares of ADENTRA stock opened at $29.00 on Monday. The company has a market capitalization of $512.03 million, a P/E ratio of 9.89 and a beta of 1.57. The company has a fifty day moving average of $33.58 and a 200 day moving average of $37.54. ADENTRA has a fifty-two week low of $27.37 and a fifty-two week high of $45.25.

ADENTRA Increases Dividend

The firm 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. This represents a $0.60 annualized dividend and a dividend yield of 2.07%. This is a boost from ADENTRA’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Monday, January 20th. ADENTRA’s dividend payout ratio is currently 19.10%.

ADENTRA Company Profile

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.