Canaccord Genuity Group Has Lowered Expectations for ADENTRA (TSE:ADEN) Stock Price

ADENTRA (TSE:ADEN) had its price objective cut by Canaccord Genuity Group from C$50.00 to C$44.00 in a report issued on Monday morning,BayStreet.CA reports. They currently have a buy rating on the stock.

ADEN has been the topic of several other reports. CIBC decreased their target price on shares of ADENTRA from C$49.00 to C$44.00 and set an “outperform” rating on the stock in a research report on Monday. National Bankshares decreased their target price on shares of ADENTRA from C$60.00 to C$53.00 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 research report on Friday, December 20th. Scotiabank decreased their target price on shares of ADENTRA from C$49.00 to C$43.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, Stifel Nicolaus decreased their target price on shares of ADENTRA from C$51.00 to C$41.00 and set a “buy” rating on the stock in a research report on Monday. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $48.13.

ADENTRA Stock Down 2.6 %

Shares of ADEN stock opened at $27.90 on Monday. The company’s fifty day simple moving average is $33.87 and its two-hundred day simple moving average is $37.70. The stock has a market cap of $492.61 million, a P/E ratio of 9.51 and a beta of 1.57. ADENTRA has a 52 week low of $27.77 and a 52 week high of $45.25.

ADENTRA Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 31st were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.15%. This is an increase from ADENTRA’s previous quarterly dividend of $0.14. The ex-dividend date was Monday, January 20th. ADENTRA’s dividend payout ratio is presently 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.