CIBC Sticks to Its Hold Rating for Acadian Timber (ADN)


A Wall Street analyst has provided a rating update for the Materials sector company yesterday, while remaining neutral on the stock. Analyst Hamir Patel from CIBC reiterated a Hold rating on Acadian Timber (ADN), with a C$17 price target.

According to TipRanks.com, Patel is a 4-star analyst with an average return of 5.9% and a 47.4% success rate. Patel covers the Basic Materials sector, focusing on stocks such as West Fraser Timber Co Ltd, Cascades Inc, and Norbord Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Acadian Timber with a C$18.63 average price target.

Acadian Timber’s market cap is currently C$291.3M and has a P/E ratio of 13.1. The company has a Price to Book ratio of 1.06.

Acadian Timber Corp. engages in the operation of timberland and supplies forest products. It operates through the following segments: New Brunswick Timberlands, Maine Timberlands, and Corporate. The company was founded on January 1, 2010 and is headquartered in Vancouver, Canada.

The company’s shares closed on Thursday at C$17.41.

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