Acadian Timber (ADN) Sets New 1-Year High Following Analyst Upgrade

Acadian Timber Corp (TSE:ADN)’s share price reached a new 52-week high on Tuesday after CIBC raised their price target on the stock from C$18.00 to C$19.00. The company traded as high as C$19.03 and last traded at C$19.12, with a volume of 7799 shares changing hands. The stock had previously closed at C$19.04.

Several other brokerages have also commented on ADN. Raymond James Financial dropped their price target on shares of Acadian Timber from C$23.00 to C$22.00 and set an “outperform” rating for the company in a research report on Thursday, February 15th. Scotiabank upped their price target on shares of Acadian Timber from C$18.50 to C$19.00 and gave the stock a “sector perform” rating in a research report on Friday, February 16th.

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Acadian Timber (TSE:ADN) last issued its quarterly earnings results on Wednesday, February 14th. The company reported C$0.74 EPS for the quarter. Acadian Timber had a net margin of 61.85% and a return on equity of 18.43%. The firm had revenue of C$19.96 million during the quarter.

The business also recently declared a quarterly dividend, which was paid on Friday, April 13th. Investors of record on Saturday, March 31st were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 5.78%. The ex-dividend date of this dividend was Wednesday, March 28th.

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Acadian Timber Company Profile

Acadian Timber Corp. is a Canada-based supplier of primary forest products in Eastern Canada and the Northeastern United States. The Company owns and manages approximately 761,000 acres of freehold timberlands in New Brunswick (New Brunswick Timberlands), approximately 299,000 acres of freehold timberlands in Maine (Maine Timberlands) and provides management services relating to approximately 1.3 million acres of Crown licensed timberlands.

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