ADENTRA (TSE:ADEN) Given New C$44.00 Price Target at CIBC

ADENTRA (TSE:ADEN) had its price objective reduced by CIBC from C$49.00 to C$44.00 in a research report sent to investors on Monday,BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

ADEN has been the subject of a number of other reports. Cormark decreased their price target on ADENTRA from C$55.00 to C$46.00 in a research note on Monday. Raymond James set a C$60.00 price target on ADENTRA and gave the company a “strong-buy” rating in a research note on Friday, December 20th. Finally, National Bankshares decreased their price target on ADENTRA from C$60.00 to C$53.00 and set an “outperform” rating for the company in a research note on Monday. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $48.13.

ADENTRA Stock Performance

Shares of ADENTRA stock opened at $29.00 on Monday. The business’s 50 day simple moving average is $33.58 and its 200 day simple moving average is $37.54. ADENTRA has a 52-week low of $27.37 and a 52-week high of $45.25. The firm has a market cap of $512.03 million, a PE ratio of 9.89 and a beta of 1.57.

ADENTRA Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 31st were paid a dividend of $0.15 per share. This is an increase from ADENTRA’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Monday, January 20th. ADENTRA’s payout ratio is currently 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.