ADENTRA (TSE:ADEN) Shares Down 2% – Here’s Why

ADENTRA Inc. (TSE:ADEN)’s stock price traded down 2% during mid-day trading on Friday . The stock traded as low as $34.22 and last traded at $34.54. 44,084 shares were traded during trading, an increase of 14% from the average session volume of 38,672 shares. The stock had previously closed at $35.25.

Analysts Set New Price Targets

A number of brokerages have issued reports on ADEN. Acumen Capital reduced their price objective on shares of ADENTRA from C$56.00 to C$54.00 in a research note on Friday, November 15th. Raymond James set a C$60.00 price target on ADENTRA and gave the stock a “strong-buy” rating in a research report on Friday, December 20th. National Bankshares boosted their price objective on shares of ADENTRA from C$57.00 to C$60.00 and gave the company an “outperform” rating in a research report on Monday, October 7th. Finally, Stifel Nicolaus reduced 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. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $55.14.

ADENTRA Price Performance

The company has a fifty day moving average price of $38.25 and a two-hundred day moving average price of $39.58. The company has a market capitalization of $864.19 million, a P/E ratio of 12.98 and a beta of 1.57.

ADENTRA Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 31st will be paid a dividend of $0.15 per share. The ex-dividend date is Monday, January 20th. This is a positive change from ADENTRA’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a yield of 1.74%. ADENTRA’s dividend payout ratio is currently 21.05%.

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.