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

ADENTRA Inc. (TSE:ADEN) hit a new 52-week low on Thursday after Desjardins lowered their price target on the stock from C$46.00 to C$41.00. Desjardins currently has a buy rating on the stock. ADENTRA traded as low as $24.80 and last traded at $25.05, with a volume of 129824 shares. The stock had previously closed at $26.79.

Several other research analysts have also recently commented on ADEN. Scotiabank dropped their price target on shares of ADENTRA from C$43.00 to C$33.00 and set an “outperform” rating for the company in a research report on Monday, May 5th. Stifel Nicolaus dropped their price objective on ADENTRA from C$41.00 to C$36.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Canaccord Genuity Group cut their target price on ADENTRA from C$50.00 to C$44.00 and set a “buy” rating for the company in a research report on Monday, March 17th. CIBC decreased their price target on ADENTRA from C$44.00 to C$34.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 22nd. Finally, National Bankshares cut their price objective on shares of ADENTRA from C$60.00 to C$53.00 and set an “outperform” rating for the company in a research report on Monday, March 17th. Seven 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.com, the stock presently has an average rating of “Buy” and a consensus target price of $44.56.

ADENTRA Stock Performance

The company has a fifty day moving average of $27.88 and a two-hundred day moving average of $33.78. The company has a market cap of $440.87 million, a price-to-earnings ratio of 8.51 and a beta of 1.57.

ADENTRA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 25th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend was Monday, April 14th. ADENTRA’s dividend payout ratio (DPR) is currently 19.10%.

ADENTRA Company Profile

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.