ADENTRA (TSE:ADEN) Sets New 52-Week Low Following Analyst Downgrade

ADENTRA Inc. (TSE:ADEN)’s stock price reached a new 52-week low during trading 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 trading hands. The stock had previously closed at $28.64.

A number of other research firms also recently weighed in on ADEN. CIBC reduced 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 research report on Monday. Raymond James set a C$60.00 price objective on shares of ADENTRA and gave the stock a “strong-buy” rating in a report on Friday, December 20th. Cormark cut their price objective on shares of ADENTRA from C$55.00 to C$46.00 in a report on Monday. Stifel Nicolaus cut their price objective 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 cut 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $48.13.

ADENTRA Stock Performance

The stock has a market cap of $496.14 million, a PE ratio of 9.58 and a beta of 1.57. The company’s 50-day moving average price is $34.05 and its two-hundred day moving average price is $37.79.

ADENTRA Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 31st were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend was Monday, January 20th. This is a boost from ADENTRA’s previous quarterly dividend of $0.14. ADENTRA’s dividend payout ratio (DPR) is presently 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.