ADENTRA (TSE:ADEN) Shares Climb 1.1% - Here's Why

Key Points

• ADENTRA shares rose 1.1% to $35.23, although trading volume was 59% below the average daily level.
• Analysts remain bullish: seven analysts rate the stock a Buy, with recent price-target increases ranging from C$49 to C$54.
• The company reported quarterly EPS of $0.96, slightly below the $0.98 consensus, and announced a quarterly dividend of $0.16 per share, representing a 1.8% yield.

ADENTRA Inc. (TSE:ADEN - Get Free Report) was up 1.1% on Tuesday. The stock traded as high as $35.45 and last traded at $35.23. 21,315 shares traded hands during trading, a decline of 59% from the average daily volume of 51,602 shares. The stock had previously closed at $34.85.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ADEN shares. Acumen Capital boosted their target price on shares of ADENTRA from C$48.00 to C$50.00 in a research report on Friday, August 7th. Desjardins raised their target price on shares of ADENTRA from C$47.00 to C$49.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. TD set a C$46.00 target price on shares of ADENTRA and gave the company a "buy" rating in a research note on Thursday, September 10th. Scotia upped their price objective on ADENTRA from C$47.00 to C$49.00 and gave the stock a "sector outperform" rating in a research note on Monday, August 10th. Finally, Stifel Nicolaus boosted their price target on ADENTRA from C$48.00 to C$54.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Seven analysts have rated the stock with a Buy rating. According to MarketBeat.com, the stock presently has a consensus rating of "Buy".

ADENTRA Trading Up 1.1%

The company has a market capitalization of $854.15 million, a PE ratio of 13.00 and a beta of 1.50. The stock's 50-day moving average is $36.22 and its two-hundred day moving average is $35.22.

ADENTRA (TSE:ADEN - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.96 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.02). ADENTRA had a return on equity of 10.11% and a net margin of 2.98%. The business had revenue of $607.13 million for the quarter, compared to the consensus estimate of $838.14 million. On average, equities research analysts forecast that ADENTRA Inc. will post 4.71 EPS for the current fiscal year.

ADENTRA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 30th will be issued a dividend of $0.16 per share. The ex-dividend date is Monday, October 19th. This represents a $0.64 dividend on an annualized basis and a yield of 1.8%. ADENTRA's dividend payout ratio is currently 16.61%.

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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