TerraVest Industries (TSE:TVK) Share Price Passes Below Fifty Day Moving Average – Here’s What Happened

TerraVest Industries Inc. (TSE:TVK) shares crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of C$125.67 and traded as low as C$115.00. TerraVest Industries shares last traded at C$115.92, with a volume of 66,454 shares.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Canaccord Genuity Group lowered their price objective on shares of TerraVest Industries from C$190.00 to C$140.00 and set a “buy” rating on the stock in a report on Tuesday, June 9th. Canadian Imperial Bank of Commerce reduced their target price on shares of TerraVest Industries from C$160.00 to C$130.00 and set a “neutral” rating for the company in a report on Wednesday, July 8th. National Bank Financial decreased their target price on shares of TerraVest Industries from C$175.00 to C$170.00 and set an “outperform” rating for the company in a research report on Friday, May 15th. BMO Capital Markets lowered their price target on shares of TerraVest Industries from C$190.00 to C$170.00 in a research note on Friday, May 15th. Finally, Scotiabank lowered their price target on shares of TerraVest Industries from C$178.00 to C$172.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, May 19th. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$159.50.

TerraVest Industries Stock Up 3.4%

The company has a current ratio of 1.49, a quick ratio of 0.91 and a debt-to-equity ratio of 145.05. The firm’s 50 day moving average price is C$125.41 and its two-hundred day moving average price is C$136.72. The company has a market capitalization of C$2.60 billion, a price-to-earnings ratio of 36.66 and a beta of 0.90.

TerraVest Industries (TSE:TVK) last issued its earnings results on Thursday, May 14th. The company reported C$0.45 earnings per share (EPS) for the quarter. TerraVest Industries had a net margin of 4.35% and a return on equity of 9.99%. The business had revenue of C$442.56 million during the quarter. Sell-side analysts anticipate that TerraVest Industries Inc. will post 4.4510412 earnings per share for the current fiscal year.

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.