Acadian Timber (TSE:ADN) Upgraded to Outperform at CIBC

Acadian Timber (TSE:ADN) was upgraded by equities researchers at CIBC from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday, Analyst Ratings Network reports.

Several other equities research analysts have also recently weighed in on ADN. Raymond James increased their price objective on Acadian Timber from C$18.00 to C$21.00 and gave the company an “outperform” rating in a research report on Wednesday, April 7th. Scotiabank increased their price objective on Acadian Timber from C$16.50 to C$17.50 in a research report on Friday, February 12th. Finally, Royal Bank of Canada raised their target price on Acadian Timber from C$16.00 to C$17.00 and gave the stock a “sector perform” rating in a research report on Friday, February 12th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. Acadian Timber has an average rating of “Hold” and an average target price of C$16.75.

Shares of ADN stock opened at C$19.96 on Wednesday. Acadian Timber has a 12 month low of C$12.00 and a 12 month high of C$20.08. The company has a quick ratio of 1.37, a current ratio of 1.44 and a debt-to-equity ratio of 34.51. The business’s 50 day moving average is C$19.02 and its two-hundred day moving average is C$16.81. The company has a market cap of C$333.07 million and a PE ratio of 15.09.

Acadian Timber (TSE:ADN) last announced its quarterly earnings results on Wednesday, February 10th. The company reported C$0.92 EPS for the quarter, beating the consensus estimate of C$0.21 by C$0.71. The company had revenue of C$24.93 million for the quarter. As a group, equities analysts expect that Acadian Timber will post 1.0637587 EPS for the current fiscal year.

About Acadian Timber

Acadian Timber Corp. supplies primary forest products in Eastern Canada and the Northeastern United States. The company operates through two segments, NB Timberlands and Maine Timberlands. Its products include softwood and hardwood sawlogs, pulpwood, and biomass by-products. The company owns and manages approximately 1.1 million acres of freehold timberlands in New Brunswick and Maine; and provides timber services relating to approximately 1.3 million acres of Crown licensed timberlands in New Brunswick.

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