Desjardins Issues Positive Forecast for ADENTRA (TSE:ADEN) Stock Price

Key Points

• Desjardins has increased its target price for ADENTRA stock from C$41.00 to C$47.00, maintaining a "buy" rating for the stock.
• Several other analysts have also raised their target prices, with National Bankshares adjusting theirs to C$42.50, reflecting a positive outlook on ADENTRA's performance.
• ADENTRA's stock rose 3.9% to $35.70, with a market cap of C$871.40 million and a price-to-earnings ratio of 20.28.

ADENTRA (TSE:ADEN - Get Free Report) had its target price lifted by research analysts at Desjardins from C$41.00 to C$47.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The brokerage presently has a "buy" rating on the stock.

ADEN has been the topic of a number of other research reports. National Bankshares increased their target price on ADENTRA from C$41.00 to C$42.50 and gave the stock an "outperform" rating in a research note on Monday, August 11th. Scotiabank set a C$31.00 price objective on ADENTRA and gave the company a "sector perform" rating in a research note on Thursday, June 19th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy".

ADENTRA Trading Up 3.9%

ADEN stock traded up $1.35 during trading on Monday, hitting $35.70. 22,391 shares of the stock traded hands, compared to its average volume of 65,743. The company has a 50 day simple moving average of $33.38 and a 200 day simple moving average of $29.53. The stock has a market cap of $871.40 million, a price-to-earnings ratio of 20.28 and a beta of 1.33. ADENTRA has a one year low of $24.60 and a one year high of $44.03.

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.

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