Scotiabank Cuts ADENTRA (TSE:ADEN) Price Target to C$45.00

Key Points

• Scotiabank cut its price target on ADENTRA from C$46.00 to C$45.00 but kept a "sector outperform" rating.
• Other analysts remain largely bullish—Stifel raised its target to C$51 and ATB Cormark to C$61—leaving the consensus analyst rating at Buy.
• Shares traded down to $34.41 on the day, leaving the stock below most analyst targets; market capitalization is about $834.27 million with a PE ratio of 12.70.

ADENTRA (TSE:ADEN - Get Free Report) had its target price decreased by equities researchers at Scotiabank from C$46.00 to C$45.00 in a report released on Tuesday,BayStreet.CA reports. The firm currently has a "sector outperform" rating on the stock.

ADEN has been the topic of a number of other reports. Stifel Nicolaus upped their price target on ADENTRA from C$49.50 to C$51.00 and gave the company a "buy" rating in a report on Friday, April 17th. ATB Cormark Capital Markets upped their price target on ADENTRA from C$50.00 to C$61.00 and gave the company an "outperform" rating in a report on Friday, March 13th. Finally, National Bank Financial reduced their price target on shares of ADENTRA from C$54.50 to C$52.00 and set an "outperform" rating for the company in a research note on Friday, March 13th. Five investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy".

ADENTRA Stock Performance

Shares of ADEN traded down $0.88 on Tuesday, hitting $34.41. 15,004 shares of the stock traded hands, compared to its average volume of 49,157. The company has a market capitalization of $834.27 million, a PE ratio of 12.70 and a beta of 1.39. The business has a 50 day simple moving average of $35.55 and a 200 day simple moving average of $35.18. ADENTRA has a one year low of $24.60 and a one year high of $41.20.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.