ADENTRA (TSE:ADEN) Stock Price Down 0.4% - Here's What Happened

Key Points

• ADENTRA Inc. (TSE:ADEN) experienced a 0.4% decline in stock price, trading between $34.81 and $35.09, with a significant drop in share volume.
• Analysts have generally rated ADENTRA positively, with a consensus rating of "Buy" and target price estimates ranging from C$31.00 to C$42.50.
• The company announced a quarterly dividend of $0.15 per share to be paid on October 31st, representing an annual yield of 1.7%.

ADENTRA Inc. (TSE:ADEN - Get Free Report)'s stock price was down 0.4% during mid-day trading on Wednesday . The stock traded as low as $34.81 and last traded at $35.09. Approximately 28,678 shares were traded during trading, a decline of 57% from the average daily volume of 66,888 shares. The stock had previously closed at $35.24.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ADEN. National Bankshares upped their price target on ADENTRA from C$41.00 to C$42.50 and gave the stock an "outperform" rating in a research report on Monday, August 11th. Scotiabank set a C$31.00 target price on shares of ADENTRA and gave the company a "sector perform" rating in a report on Thursday, June 19th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy".

ADENTRA Stock Down 0.8%

The stock has a fifty day moving average price of $32.98 and a two-hundred day moving average price of $29.43. The company has a market cap of $855.05 million, a price-to-earnings ratio of 19.90 and a beta of 1.33.

ADENTRA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Monday, October 20th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.7%. ADENTRA's dividend payout ratio is currently 23.50%.

About ADENTRA

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.