The Materials sector company, Acadian Timber (ADN), has received a rating update from a Wall Street analyst on April 1. Analyst Benoit Laprade from Scotiabank rated Acadian Timber (ADN) a Hold on April 1, setting a C$18 price target.
According to TipRanks.com, Laprade is a 3-star analyst with an average return of 1.1% and a 63.0% success rate. Laprade 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.
Based on Acadian Timber’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of C$16.44 million. In comparison, last year the company had a net profit of C$1.99 million.
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 firm owns and manages freehold timberlands in New Brunswick & Maine and provides timber services relating to timberlands in New Brunswick.
The company’s shares closed on Thursday at C$16.49.
