Scotiabank Cuts ADENTRA (TSE:ADEN) Price Target to C$33.00

ADENTRA (TSE:ADEN) had its price target trimmed by Scotiabank from C$43.00 to C$33.00 in a report issued on Monday morning,BayStreet.CA reports. They currently have an outperform rating on the stock.

Other research analysts also recently issued research reports about the stock. Cormark dropped their price objective on shares of ADENTRA from C$55.00 to C$46.00 in a report on Monday, March 17th. National Bankshares lowered 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, March 17th. CIBC decreased their price objective on ADENTRA from C$44.00 to C$34.00 and set an “outperform” rating on the stock in a report on Tuesday, April 22nd. Desjardins set a C$46.00 target price on ADENTRA and gave the company a “buy” rating in a research note on Wednesday, April 16th. Finally, Stifel Nicolaus decreased their price target on shares of ADENTRA from C$41.00 to C$36.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $45.11.

ADENTRA Trading Down 1.8 %

Shares of ADENTRA stock opened at $26.81 on Monday. ADENTRA has a 1 year low of $25.38 and a 1 year high of $45.25. The company’s fifty day simple moving average is $28.44 and its 200-day simple moving average is $34.10. The company has a market cap of $473.36 million, a price-to-earnings ratio of 9.14 and a beta of 1.57.

ADENTRA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 25th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Monday, April 14th. ADENTRA’s payout ratio is 19.10%.

About ADENTRA

Adentra Inc is a distributor of architectural products to fabricators, home centers and professional dealers servicing the new residential, repair and remodel, and commercial construction end markets. The company operates a network in North America of 86 facilities in the United States and Canada.