ADENTRA (TSE:ADEN) Trading 1.3% Higher - Here's What Happened

ADENTRA Inc. (TSE:ADEN - Get Free Report) shares traded up 1.3% on Friday . The company traded as high as $30.16 and last traded at $29.94. 31,648 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 67,439 shares. The stock had previously closed at $29.55.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. CIBC reduced their price objective on shares of ADENTRA from C$44.00 to C$34.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Cormark reduced their price objective on shares of ADENTRA from C$55.00 to C$46.00 in a report on Monday, March 17th. Canaccord Genuity Group cut their price target on shares of ADENTRA from C$50.00 to C$44.00 and set a "buy" rating on the stock in a research note on Monday, March 17th. Scotiabank set a C$31.00 price target on shares of ADENTRA and gave the stock a "sector perform" rating in a research note on Thursday, June 19th. Finally, Stifel Nicolaus cut their price target on shares of ADENTRA from C$41.00 to C$36.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $43.00.

ADENTRA Trading Up 1.3%

The company's 50 day moving average is $26.83 and its 200 day moving average is $30.36. The stock has a market capitalization of $528.63 million, a price-to-earnings ratio of 10.21 and a beta of 1.57.

ADENTRA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 25th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Monday, July 14th. ADENTRA's payout ratio is currently 19.10%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.