Acadian Timber (TSE:ADN) Shares Cross Above 200-Day Moving Average of $16.95

Acadian Timber Corp. (TSE:ADN)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$16.95 and traded as high as C$17.82. Acadian Timber shares last traded at C$17.75, with a volume of 4,086 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada increased their price target on shares of Acadian Timber from C$18.00 to C$20.00 in a report on Friday, May 10th. Raymond James raised their price objective on Acadian Timber from C$18.50 to C$20.00 in a research note on Friday, May 10th. Finally, CIBC upgraded Acadian Timber from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from C$17.00 to C$20.00 in a research report on Thursday, April 11th.

Acadian Timber Stock Down 0.5 %

The company has a debt-to-equity ratio of 36.66, a current ratio of 0.44 and a quick ratio of 1.04. The firm’s 50-day moving average price is C$17.44 and its 200 day moving average price is C$16.97. The firm has a market capitalization of C$305.72 million, a price-to-earnings ratio of 10.10, a price-to-earnings-growth ratio of -4.84 and a beta of 0.87.

Acadian Timber Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Sunday, June 30th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 6.60%. The ex-dividend date of this dividend is Friday, June 28th. Acadian Timber’s dividend payout ratio (DPR) is presently 66.67%.

About Acadian Timber

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