ADENTRA (TSE:ADEN) Stock Price Down 0.3% – Here’s What Happened

ADENTRA Inc. (TSE:ADEN)’s stock price fell 0.3% during mid-day trading on Thursday . The company traded as low as $39.06 and last traded at $39.19. 52,006 shares changed hands during trading, a decline of 16% from the average session volume of 61,854 shares. The stock had previously closed at $39.29.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ADEN shares. Cormark boosted their price target on shares of ADENTRA from C$51.50 to C$56.50 in a report on Tuesday, July 30th. Stifel Nicolaus cut their target price on shares of ADENTRA from C$53.00 to C$50.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. National Bankshares raised their price target on shares of ADENTRA from C$57.00 to C$60.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. Scotiabank boosted their price objective on ADENTRA from C$51.00 to C$52.50 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. Finally, Acumen Capital raised their target price on ADENTRA from C$54.00 to C$56.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $54.67.

ADENTRA Stock Performance

The company has a market cap of $975.28 million, a PE ratio of 14.65 and a beta of 1.57. The firm’s 50 day moving average is $40.87 and its 200-day moving average is $37.20.

ADENTRA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 25th were issued a $0.14 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $0.56 annualized dividend and a dividend yield of 1.44%. ADENTRA’s dividend payout ratio is presently 21.05%.

Insiders Place Their Bets

In other ADENTRA news, Senior Officer Daniel Brian Figgins sold 7,800 shares of ADENTRA stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $38.76, for a total transaction of $302,328.00. 10.73% of the stock is currently owned by corporate insiders.

ADENTRA Company Profile

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.