ADENTRA (TSE:ADEN) Trading Down 2% – Here’s What Happened

ADENTRA Inc. (TSE:ADEN) shares traded down 2% during trading on Friday . The company traded as low as $34.22 and last traded at $34.54. 44,084 shares were traded during mid-day trading, an increase of 14% from the average session volume of 38,672 shares. The stock had previously closed at $35.25.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. National Bankshares raised their price objective on ADENTRA from C$57.00 to C$60.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. Acumen Capital reduced their price objective on shares of ADENTRA from C$56.00 to C$54.00 in a research note on Friday, November 15th. 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. Finally, Stifel Nicolaus cut their target price on shares of ADENTRA from C$53.00 to C$50.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $55.14.

ADENTRA Trading Down 2.0 %

The stock has a market capitalization of $864.19 million, a price-to-earnings ratio of 12.98 and a beta of 1.57. The stock has a 50-day simple moving average of $38.25 and a 200 day simple moving average of $39.58.

ADENTRA Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 31st will be given a dividend of $0.15 per share. This is a boost from ADENTRA’s previous quarterly dividend of $0.14. The ex-dividend date is Monday, January 20th. This represents a $0.60 dividend on an annualized basis and a yield of 1.74%. ADENTRA’s dividend payout ratio (DPR) is presently 21.05%.

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.