ADENTRA (TSE:ADEN) Shares Down 2% – Here’s What Happened

ADENTRA Inc. (TSE:ADEN)’s stock price was down 2% on Friday . The stock traded as low as $34.22 and last traded at $34.54. Approximately 44,084 shares traded hands during mid-day trading, an increase of 14% from the average daily volume of 38,672 shares. The stock had previously closed at $35.25.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ADEN. Stifel Nicolaus lowered their price target on shares of ADENTRA from C$53.00 to C$50.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Acumen Capital reduced their price target on shares of ADENTRA from C$56.00 to C$54.00 in a research report on Friday, November 15th. Raymond James set a C$60.00 price target on ADENTRA and gave the stock a “strong-buy” rating in a report on Friday, December 20th. Finally, National Bankshares lifted their price objective on ADENTRA from C$57.00 to C$60.00 and gave the stock an “outperform” rating in a report on Monday, October 7th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $55.14.

ADENTRA Trading Down 2.0 %

The company’s 50 day moving average is $38.25 and its 200-day moving average is $39.56. The stock has a market cap of $864.19 million, a PE ratio of 12.98 and a beta of 1.57.

ADENTRA Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 31st will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Monday, January 20th. This is a positive change from ADENTRA’s previous quarterly dividend of $0.14. ADENTRA’s payout ratio is 21.05%.

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.