Acadian Timber (TSE:ADN) Shares Cross Above Two Hundred Day Moving Average of $16.62
Acadian Timber Corp (TSE:ADN) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $16.62 and traded as high as $16.84. Acadian Timber shares last traded at $16.69, with a volume of 2,710 shares changing hands.
A number of research analysts have issued reports on ADN shares. Royal Bank of Canada lowered shares of Acadian Timber from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from C$20.00 to C$18.00 in a research report on Wednesday, October 9th. Raymond James restated an “outperform” rating and set a C$20.00 target price on shares of Acadian Timber in a research report on Thursday, October 31st.
The stock’s fifty day moving average price is C$16.65 and its two-hundred day moving average price is C$16.62. The company has a debt-to-equity ratio of 38.41, a quick ratio of 0.98 and a current ratio of 1.03. The company has a market cap of $281.01 million and a P/E ratio of 15.94.
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 managements services relating to approximately 1.3 million acres of Crown licensed timberlands.
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