ADENTRA (TSE:ADEN) Shares Down 2% – Time to Sell?

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ADEN shares. National Bankshares raised their target price on shares of ADENTRA from C$57.00 to C$60.00 and gave the stock an “outperform” rating in a report on Monday, October 7th. 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. Acumen Capital reduced their price objective on ADENTRA from C$56.00 to C$54.00 in a research report on Friday, November 15th. Finally, Stifel Nicolaus dropped their target price on ADENTRA from C$53.00 to C$50.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $55.14.

ADENTRA Stock Performance

The firm has a market capitalization of $864.19 million, a P/E ratio of 12.98 and a beta of 1.57. The business has a fifty day moving average of $38.25 and a 200-day moving average of $39.56.

ADENTRA Increases Dividend

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

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.