ADENTRA (TSE:ADEN) Trading Down 5% – Here’s What Happened

Shares of ADENTRA Inc. (TSE:ADEN) fell 5% during mid-day trading on Thursday . The stock traded as low as $36.40 and last traded at $36.70. Approximately 51,906 shares traded hands during trading, a decline of 9% from the average session volume of 56,862 shares. The stock had previously closed at $38.65.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. TD set a C$42.00 price target on ADENTRA and gave the stock a “buy” rating in a research report on Thursday, June 11th. Scotiabank decreased their price objective on shares of ADENTRA from C$46.00 to C$45.00 and set a “sector outperform” rating for the company in a report on Tuesday, April 28th. Stifel Nicolaus boosted their target price on ADENTRA from C$49.50 to C$51.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. National Bank Financial lowered their target price on shares of ADENTRA from C$54.50 to C$52.00 and set an “outperform” rating on the stock in a research note on Friday, March 13th. Finally, ATB Cormark Capital Markets raised their price target on shares of ADENTRA from C$50.00 to C$61.00 and gave the company an “outperform” rating in a report on Friday, March 13th. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, ADENTRA currently has a consensus rating of “Buy”.

ADENTRA Trading Down 5.0%

The business’s 50 day simple moving average is $34.37 and its two-hundred day simple moving average is $35.44. The firm has a market capitalization of $889.13 million, a PE ratio of 13.95 and a beta of 1.74.

ADENTRA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 31st will be issued a $0.16 dividend. The ex-dividend date of this dividend is Monday, July 20th. This represents a $0.64 annualized dividend and a dividend yield of 1.7%. ADENTRA’s payout ratio is presently 16.79%.

ADENTRA Company Profile

Adentra Inc is a distributor of architectural products to fabricators, home centers and professional dealers servicing the new residential, repair and remodel, and commercial construction end markets. The company operates a network in North America of 86 facilities in the United States and Canada.