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.

Other research analysts have also issued reports about the company. CIBC cut their target price 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. Cormark cut their price target on ADENTRA from C$55.00 to C$46.00 in a report on Monday, March 17th. Stifel Nicolaus reduced their price objective on shares of ADENTRA from C$41.00 to C$36.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Scotiabank reduced their target price on shares of ADENTRA from C$43.00 to C$33.00 and set an “outperform” rating for the company in a report on Monday. Finally, National Bankshares reduced their price objective on ADENTRA from C$60.00 to C$53.00 and set an “outperform” rating for the company in a research note on Monday, March 17th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $44.56.

ADENTRA Stock Down 7.4 %

Shares of ADEN opened at $24.80 on Thursday. ADENTRA has a 52-week low of $24.60 and a 52-week high of $45.25. The company has a market capitalization of $437.87 million, a PE ratio of 8.46 and a beta of 1.57. The company has a 50-day simple moving average of $28.02 and a 200-day simple moving average of $33.89.

ADENTRA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Friday, April 25th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend was Monday, April 14th. 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.