CIBC Cuts ADENTRA (TSE:ADEN) Price Target to C$44.00

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

A number of other brokerages have also recently issued reports on ADEN. Raymond James set a C$60.00 target price on ADENTRA and gave the stock a “strong-buy” rating in a report on Friday, December 20th. Cormark dropped their price target on ADENTRA from C$55.00 to C$46.00 in a research report on Monday. Finally, 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 report on Monday. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, ADENTRA presently has an average rating of “Buy” and a consensus target price of $48.13.

ADENTRA Trading Up 4.3 %

Shares of ADEN opened at $29.00 on Monday. ADENTRA has a 1 year low of $27.37 and a 1 year high of $45.25. The stock has a market cap of $512.03 million, a P/E ratio of 9.89 and a beta of 1.57. The stock’s 50-day moving average price is $33.58 and its two-hundred day moving average price is $37.54.

ADENTRA Increases Dividend

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