ADENTRA Inc. (TSE:ADEN – Get Free Report)’s share price hit a new 52-week low on Monday after Canaccord Genuity Group lowered their price target on the stock from C$50.00 to C$44.00. Canaccord Genuity Group currently has a buy rating on the stock. ADENTRA traded as low as $27.77 and last traded at $28.35, with a volume of 133512 shares. The stock had previously closed at $28.64.
A number of other research firms also recently weighed in on ADEN. Stifel Nicolaus dropped their price target on shares of ADENTRA from C$51.00 to C$41.00 and set a “buy” rating for the company in a research report on Monday. Raymond James set a C$60.00 target price on shares of ADENTRA and gave the company a “strong-buy” rating in a report on Friday, December 20th. Scotiabank cut their price target on ADENTRA from C$49.00 to C$43.00 and set an “outperform” rating on the stock in a report on Monday. Cormark reduced their target price on ADENTRA from C$55.00 to C$46.00 in a research note on Monday. Finally, National Bankshares lowered their price objective on shares of ADENTRA from C$60.00 to C$53.00 in a report on Monday. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $48.13.
View Our Latest Stock Analysis on ADEN
ADENTRA Stock Down 2.6 %
ADENTRA Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 31st were issued a $0.15 dividend. The ex-dividend date was Monday, January 20th. This represents a $0.60 annualized dividend and a yield of 2.15%. This is a positive change from ADENTRA’s previous quarterly dividend of $0.14. ADENTRA’s dividend payout ratio (DPR) is 19.10%.
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.
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