Desjardins Cuts ADENTRA (TSE:ADEN) Price Target to C$41.00

ADENTRA (TSE:ADEN) had its target price decreased by Desjardins from C$46.00 to C$41.00 in a report issued on Thursday morning,BayStreet.CA reports. Desjardins currently has a buy rating on the stock.

A number of other equities analysts have also recently issued reports on ADEN. Canaccord Genuity Group cut their price objective on shares of ADENTRA from C$50.00 to C$44.00 and set a “buy” rating on the stock in a research report on Monday, March 17th. National Bankshares dropped 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. Cormark reduced their price objective on ADENTRA from C$55.00 to C$46.00 in a research note on Monday, March 17th. Scotiabank cut their target price on ADENTRA from C$43.00 to C$33.00 and set an “outperform” rating on the stock in a report on Monday, May 5th. Finally, Stifel Nicolaus decreased their price target on shares of ADENTRA from C$41.00 to C$36.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $44.56.

ADENTRA Trading Up 0.7 %

Shares of ADEN opened at $24.97 on Thursday. The firm’s fifty day simple moving average is $27.88 and its two-hundred day simple moving average is $33.74. ADENTRA has a 12 month low of $24.60 and a 12 month high of $45.25. The stock has a market capitalization of $440.87 million, a P/E ratio of 8.51 and a beta of 1.57.

ADENTRA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Friday, April 25th were issued a dividend of $0.15 per share. The ex-dividend date was Monday, April 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.40%. ADENTRA’s dividend payout ratio is presently 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.