ADENTRA (TSE:ADEN) Sets New 1-Year Low on Analyst Downgrade

ADENTRA Inc. (TSE:ADEN - Get Free Report)'s share price reached a new 52-week low 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.

Other analysts have also recently issued reports about the company. National Bankshares cut their price target on ADENTRA from C$60.00 to C$53.00 and set an "outperform" rating on the stock in a research note on Monday. CIBC cut their target price on ADENTRA from C$49.00 to C$44.00 and set an "outperform" rating on the stock in a research report on Monday. Stifel Nicolaus cut their target price on ADENTRA from C$51.00 to C$41.00 and set a "buy" rating on the stock in a research report on Monday. Scotiabank cut their target price on ADENTRA from C$49.00 to C$43.00 and set an "outperform" rating on the stock in a research report on Monday. Finally, Cormark cut their target price on ADENTRA from C$55.00 to C$46.00 in a research report on Monday. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $48.13.

ADENTRA Stock Performance

The stock has a market cap of $497.02 million, a price-to-earnings ratio of 9.60 and a beta of 1.57. The company has a 50-day moving average of $33.44 and a 200-day moving average of $37.48.

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ADENTRA Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 31st were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend was Monday, January 20th. This is a positive change from ADENTRA's previous quarterly dividend of $0.14. ADENTRA's payout ratio is currently 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.