Cormark Cuts ADENTRA (TSE:ADEN) Price Target to C$46.00

ADENTRA (TSE:ADEN) had its price target trimmed by Cormark from C$55.00 to C$46.00 in a research report sent to investors on Monday,BayStreet.CA reports.

Several other brokerages have also weighed in on ADEN. 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. CIBC cut their price objective on shares of ADENTRA from C$53.00 to C$49.00 in a report on Wednesday, January 15th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $48.13.

ADENTRA Price Performance

Shares of ADEN stock opened at $29.00 on Monday. The firm has a market cap of $512.03 million, a P/E ratio of 9.89 and a beta of 1.57. ADENTRA has a 1-year low of $27.37 and a 1-year high of $45.25. The firm’s 50-day simple moving average is $33.58 and its 200-day simple moving average is $37.54.

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 dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend was Monday, January 20th. This is an increase from ADENTRA’s previous quarterly dividend of $0.14. ADENTRA’s dividend payout ratio 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.