Acadian Timber (ADN) Price Target Raised to C$18.00

Acadian Timber (TSE:ADN) had its price objective increased by CIBC from C$17.00 to C$18.00 in a report released on Wednesday.

Other research analysts also recently issued reports about the company. Raymond James Financial cut their price objective on Acadian Timber from C$23.00 to C$22.00 and set an outperform rating on the stock in a research note on Thursday, February 15th. Scotiabank raised their price objective on Acadian Timber from C$18.50 to C$19.00 and gave the company a sector perform rating in a research note on Friday, February 16th.

Acadian Timber (ADN) opened at C$19.21 on Wednesday. Acadian Timber has a one year low of C$17.55 and a one year high of C$20.12. The firm has a market capitalization of $323.75, a P/E ratio of 10.44 and a beta of 0.28.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Saturday, March 31st will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 5.73%. The ex-dividend date is Wednesday, March 28th. Acadian Timber’s payout ratio is 58.42%.

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About Acadian Timber

Acadian Timber Corp. supplies primary forest products in Eastern Canada and the Northeastern United States. The company operates in two segments, NB Timberlands and Maine Timberlands. Its products include softwood and hardwood sawlogs, pulpwood, and biomass by-products. The company owns and manages approximately 1.1 million acres of freehold timberlands in New Brunswick and Maine; and provides management services relating to approximately 1.3 million acres of Crown licensed timberlands.

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