TerraVest Industries (TSE:TVK) Shares Cross Below 50 Day Moving Average – Here’s What Happened

TerraVest Industries Inc. (TSE:TVK)’s share price passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of C$149.58 and traded as low as C$138.64. TerraVest Industries shares last traded at C$139.83, with a volume of 40,291 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TVK. Scotiabank upped their price target on shares of TerraVest Industries from C$184.50 to C$187.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th. Canaccord Genuity Group raised their target price on TerraVest Industries from C$195.00 to C$209.00 in a research note on Monday, January 12th. Finally, BMO Capital Markets upgraded shares of TerraVest Industries from a “hold” rating to an “outperform” rating and boosted their price target for the stock from C$150.00 to C$200.00 in a research report on Friday, December 12th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, TerraVest Industries presently has a consensus rating of “Moderate Buy” and an average target price of C$188.50.

TerraVest Industries Stock Performance

The firm’s fifty day simple moving average is C$148.58 and its 200 day simple moving average is C$142.92. The company has a market capitalization of C$2.97 billion, a price-to-earnings ratio of 32.49 and a beta of 0.61. The company has a debt-to-equity ratio of 124.54, a current ratio of 1.51 and a quick ratio of 0.91.

TerraVest Industries (TSE:TVK) last released its quarterly earnings results on Wednesday, February 11th. The company reported C$1.50 earnings per share (EPS) for the quarter. The business had revenue of C$408.35 million for the quarter. TerraVest Industries had a net margin of 5.90% and a return on equity of 14.09%. On average, sell-side analysts forecast that TerraVest Industries Inc. will post 4.4510412 EPS for the current year.

TerraVest Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Friday, April 10th will be issued a $0.20 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.6%. TerraVest Industries’s dividend payout ratio is presently 17.22%.

About TerraVest Industries

TerraVest Industries Inc is a manufacturer of home heating products, propane, anhydrous ammonia, natural gas liquids transport vehicles, storage vessels, energy processing equipment, and fiberglass storage tanks. The company’s operating segments are Fuel Containment, Processing Equipment, and Service. The Fuel Containment segment is engaged in the manufacturing of bulk LPG transport trailers, LPG delivery & service trucks, bulk LPG storage tanks, residential & commercial LPG tanks, dispensers, and other products.