TerraVest Industries (TSE:TVK) Shares Break Above 50-Day Moving Average – Here’s What Happened

TerraVest Industries Inc. (TSE:TVK)’s stock price passed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of C$112.95 and traded as high as C$114.45. TerraVest Industries shares last traded at C$113.44, with a volume of 40,990 shares trading hands.

Analyst Ratings Changes

Several brokerages have weighed in on TVK. National Bank Financial upped their price target on TerraVest Industries from C$170.00 to C$180.00 in a report on Friday, August 14th. BMO Capital Markets lifted their price objective on TerraVest Industries from C$160.00 to C$170.00 in a research note on Friday, August 14th. Canadian Imperial Bank of Commerce lowered their target price on shares of TerraVest Industries from C$148.00 to C$134.00 in a research note on Thursday, October 29th. Finally, Scotiabank increased their price target on shares of TerraVest Industries from C$129.00 to C$130.00 and gave the company a “sector perform” rating in a research note on Thursday, October 15th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$150.80.

TerraVest Industries Stock Up 0.6%

The business’s fifty day moving average price is C$112.95 and its 200 day moving average price is C$126.80. The firm has a market capitalization of C$2.43 billion, a price-to-earnings ratio of 27.33 and a beta of 0.86. The company has a current ratio of 1.54, a quick ratio of 0.91 and a debt-to-equity ratio of 151.79.

TerraVest Industries (TSE:TVK) last issued its quarterly earnings results on Thursday, August 13th. The company reported C$1.40 earnings per share for the quarter. The firm had revenue of C$921.79 million during the quarter. TerraVest Industries had a net margin of 5.35% and a return on equity of 12.40%. On average, equities analysts expect that TerraVest Industries Inc. will post 4.45 EPS for the current 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.