Acadian Timber (OTCMKTS:ACAZF) Stock Price Up 1.6% – Time to Buy?

Acadian Timber Corp. (OTCMKTS:ACAZF) shares traded up 1.6% during mid-day trading on Tuesday . The company traded as high as $12.10 and last traded at $11.8850. 5,740 shares were traded during trading, an increase of 142% from the average session volume of 2,374 shares. The stock had previously closed at $11.70.

Analysts Set New Price Targets

Separately, Raymond James Financial reaffirmed an “outperform” rating on shares of Acadian Timber in a report on Thursday, October 30th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, Acadian Timber presently has an average rating of “Buy”.

Acadian Timber Price Performance

The stock has a 50-day simple moving average of $11.24 and a 200-day simple moving average of $11.92.

Acadian Timber Company Profile

Acadian Timber Corporation is an independent timberland investment company focused on the acquisition, management and development of forest assets. Headquartered in Halifax, Nova Scotia, the company supplies softwood logs and wood fibre to regional sawmills, pulp and paper facilities, and engineered wood product manufacturers across eastern Canada and the northeastern United States.

Incorporated in 2013 through a strategic spin-off of privately held timberlands, Acadian Timber began trading on the Toronto Stock Exchange later that year.