Canaccord Genuity Group Lowers ADENTRA (TSE:ADEN) Price Target to C$44.00

ADENTRA (TSE:ADEN) had its price target dropped by Canaccord Genuity Group from C$50.00 to C$44.00 in a report released on Monday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock.

A number of other research firms have also commented on ADEN. Stifel Nicolaus reduced their price objective on shares of ADENTRA from C$51.00 to C$41.00 and set a “buy” rating on the stock in a research note on Monday. Raymond James set a C$60.00 price target on ADENTRA and gave the stock a “strong-buy” rating in a report on Friday, December 20th. CIBC cut their target price on ADENTRA from C$49.00 to C$44.00 and set an “outperform” rating on the stock in a research report on Monday. National Bankshares decreased their target price on ADENTRA from C$60.00 to C$53.00 in a research note on Monday. Finally, Cormark cut their price target on ADENTRA from C$55.00 to C$46.00 in a report on Monday. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, ADENTRA has an average rating of “Buy” and an average target price of $48.13.

ADENTRA Stock Performance

Shares of TSE:ADEN traded down $0.48 during midday trading on Monday, hitting $28.16. 147,672 shares of the stock were exchanged, compared to its average volume of 61,657. The business’s 50-day moving average price is $34.05 and its 200 day moving average price is $37.79. ADENTRA has a 12 month low of $27.77 and a 12 month high of $45.25. The stock has a market capitalization of $497.20 million, a price-to-earnings ratio of 9.60 and a beta of 1.57.

ADENTRA Company Profile

ADENTRA Inc engages in the wholesale distribution of architectural building products to the residential, repair and remodel, and commercial construction markets in Canada and the United States. It offers doors, decorative surfaces, moldings, stair parts, hardwood lumber, hardwood plywood, composite panels, and other building products to industrial manufacturers, home builder distribution yards, and home centers.