Canaccord Genuity Group Issues Pessimistic Forecast for ADENTRA (TSE:ADEN) Stock Price

ADENTRA (TSE:ADEN) had its price objective reduced by equities researchers at Canaccord Genuity Group from C$50.00 to C$44.00 in a report released on Monday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock.

Other equities analysts have also issued reports about the stock. National Bankshares reduced their target price on shares of ADENTRA from C$60.00 to C$53.00 in a research report on Monday. Stifel Nicolaus lowered their price target on ADENTRA from C$51.00 to C$41.00 and set a “buy” rating for the company in a research note on Monday. Cormark reduced their price objective on shares of 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 shares of ADENTRA and gave the company a “strong-buy” rating in a report on Friday, December 20th. Finally, CIBC cut their price target on shares of ADENTRA from C$49.00 to C$44.00 and set an “outperform” rating on the stock in a research note on Monday. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $48.13.

ADENTRA Price Performance

ADEN traded down $0.48 on Monday, hitting $28.16. The company had a trading volume of 147,672 shares, compared to its average volume of 61,657. The company’s fifty day moving average price is $34.05 and its 200 day moving average price is $37.79. The stock has a market cap of $497.20 million, a price-to-earnings ratio of 9.60 and a beta of 1.57. ADENTRA has a 1-year low of $27.77 and a 1-year high of $45.25.

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.