National Bankshares Cuts ADENTRA (TSE:ADEN) Price Target to C$53.00

ADENTRA (TSE:ADEN) had its target price reduced by National Bankshares from C$60.00 to C$53.00 in a report published on Monday,BayStreet.CA reports. National Bankshares currently has an outperform rating on the stock.

A number of other brokerages have also recently weighed in on ADEN. Cormark dropped their price target on ADENTRA from C$55.00 to C$46.00 in a research note on Monday. Raymond James set a C$60.00 price target on ADENTRA and gave the stock a “strong-buy” rating in a research note on Friday, December 20th. Finally, CIBC dropped their price target on ADENTRA from C$53.00 to C$49.00 in a research note on Wednesday, January 15th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, ADENTRA presently has an average rating of “Buy” and an average target price of $48.13.

ADENTRA Trading Up 4.3 %

Shares of ADEN opened at $29.00 on Monday. The business’s 50-day moving average price is $33.58 and its 200 day moving average price is $37.54. The stock has a market capitalization of $512.03 million, a P/E ratio of 9.89 and a beta of 1.57. ADENTRA has a 1-year low of $27.37 and a 1-year high of $45.25.

ADENTRA Increases Dividend

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