Royal Bank of Canada Increases Acadian Timber (ADN) Price Target to C$19.00

Acadian Timber (TSE:ADN) had its target price hoisted by Royal Bank of Canada from C$18.00 to C$19.00 in a note issued to investors on Friday. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 10.02% from the company’s previous close.

Several other equities research analysts have also issued reports on ADN. CIBC reduced their price objective on shares of Acadian Timber from C$20.00 to C$17.00 in a research note on Thursday, December 13th. Raymond James reaffirmed an “outperform” rating and issued a C$20.50 price objective on shares of Acadian Timber in a research note on Thursday. Finally, CSFB raised shares of Acadian Timber from a “neutral” rating to an “outperform” rating in a research note on Friday, January 25th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of C$19.10.

Shares of Acadian Timber stock traded down C$0.14 on Friday, hitting C$17.27. 3,832 shares of the company traded hands, compared to its average volume of 15,662. The company has a quick ratio of 2.23, a current ratio of 2.33 and a debt-to-equity ratio of 33.14. Acadian Timber has a 12-month low of C$14.25 and a 12-month high of C$20.24. The stock has a market cap of $291.28 million and a P/E ratio of 13.03.

In other Acadian Timber news, Director Malcolm Jack L. Cecil-Cockwell acquired 100,000 shares of Acadian Timber stock in a transaction that occurred on Tuesday, December 11th. The stock was acquired at an average price of C$14.50 per share, with a total value of C$1,450,000.00. Also, insider Mark Winslow Bishop acquired 10,000 shares of Acadian Timber stock in a transaction that occurred on Wednesday, December 12th. The stock was acquired at an average cost of C$14.48 per share, with a total value of C$144,800.00. In the last ninety days, insiders purchased 117,000 shares of company stock valued at $1,704,090.

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 approximately 1.1 million acres of freehold timberlands in New Brunswick and Maine; and provides management services relating to approximately 1.3 million acres of Crown licensed timberlands.

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Analyst Recommendations for Acadian Timber (TSE:ADN)

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