CIBC Cuts ADENTRA (TSE:ADEN) Price Target to C$49.00

ADENTRA (TSE:ADEN) had its price target cut by CIBC from C$53.00 to C$49.00 in a research report report published on Wednesday morning,BayStreet.CA reports.

Several other equities analysts have also recently issued reports on the company. National Bankshares raised their price objective on ADENTRA from C$57.00 to C$60.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. Raymond James set a C$60.00 price target on shares of ADENTRA and gave the stock a “strong-buy” rating in a research report on Friday, December 20th. Stifel Nicolaus decreased their price target on shares of ADENTRA from C$53.00 to C$50.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Finally, Acumen Capital dropped their price objective on shares of ADENTRA from C$56.00 to C$54.00 in a research note on Friday, November 15th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, ADENTRA currently has an average rating of “Buy” and a consensus price target of $54.57.

ADENTRA Stock Performance

TSE:ADEN opened at $35.58 on Wednesday. The company has a market capitalization of $890.21 million, a price-to-earnings ratio of 13.38 and a beta of 1.57. ADENTRA has a one year low of $31.21 and a one year high of $45.25. The stock has a 50-day simple moving average of $37.94 and a 200 day simple moving average of $39.51.

ADENTRA Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 31st will be given a $0.15 dividend. This is a boost from ADENTRA’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Monday, January 20th. This represents a $0.60 annualized dividend and a yield of 1.69%. ADENTRA’s dividend payout ratio is 21.05%.

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.