ADENTRA (TSE:ADEN) Shares Down 0.9% – Here’s Why

ADENTRA Inc. (TSE:ADEN)’s share price was down 0.9% during mid-day trading on Friday . The stock traded as low as $38.82 and last traded at $39.48. Approximately 44,398 shares were traded during trading, a decline of 31% from the average daily volume of 64,797 shares. The stock had previously closed at $39.84.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ADEN shares. National Bankshares upped their price target 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. Stifel Nicolaus lowered their target price on shares of ADENTRA from C$53.00 to C$50.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. CIBC increased their target price on shares of ADENTRA from C$52.00 to C$53.00 and gave the stock an “outperform” rating in a report on Tuesday, August 13th. Finally, Acumen Capital decreased their price target on shares of ADENTRA from C$56.00 to C$54.00 in a report on Friday, November 15th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, ADENTRA currently has a consensus rating of “Buy” and a consensus price target of $54.33.

ADENTRA Stock Performance

The firm’s fifty day simple moving average is $40.51 and its 200 day simple moving average is $38.44. The stock has a market capitalization of $987.79 million, a price-to-earnings ratio of 14.84 and a beta of 1.57.

ADENTRA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 25th were issued a dividend of $0.14 per share. The ex-dividend date was Tuesday, October 15th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.42%. ADENTRA’s payout ratio is 21.05%.

Insider Activity at ADENTRA

In related news, Senior Officer Daniel Brian Figgins sold 7,800 shares of ADENTRA stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $38.76, for a total value of $302,328.00. 10.73% of the stock is currently owned by insiders.

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.