Scotiabank Downgrades Acadian Timber to Hold

By Ryan Adsit

Yesterday, an analyst has provided a rating update for the Materials sector company, Acadian Timber (TSX: ADN). Analyst Benoit Laprade from Scotiabank rated Acadian Timber (TSX: ADN) a Hold, setting a C$18.50 price target.

According to TipRanks.com, Laprade is a 3-star analyst with an average return of 0.9% and a 78.4% success rate. Laprade covers the Consumer Goods sector, focusing on stocks such as Fibria Celulose SA, Methanex Corp, and Domtar Corp.

Acadian Timber has an analyst consensus of Hold, with a price target consensus of C$18.75.

Acadian Timber’s market cap is currently C$316.1M and has a P/E ratio of 19.1.

Acadian Timber Corp. engages in the operation of timberland and supplies forest products. It owns and manages freehold timberlands in New Brunswick and Maine. Its products include softwood and hardwood sawlogs, pulpwood, and biomass by-products. The company was founded on January 1, 2010 and is headquartered in Vancouver, Canada.

The company’s shares closed on Friday at C$18.60.