TerraVest Industries (TSE:TVK) Sets New 52-Week High on Analyst Upgrade

TerraVest Industries Inc. (TSE:TVK)’s share price hit a new 52-week high during mid-day trading on Tuesday after Scotiabank raised their price target on the stock from C$126.00 to C$140.00. Scotiabank currently has an outperform rating on the stock. TerraVest Industries traded as high as C$144.50 and last traded at C$139.83, with a volume of 44080 shares trading hands. The stock had previously closed at C$131.04.

Other analysts also recently issued research reports about the stock. National Bank Financial downgraded shares of TerraVest Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 25th. Desjardins raised their price objective on TerraVest Industries from C$125.00 to C$150.00 and gave the company a “buy” rating in a research note on Tuesday. National Bankshares upped their price objective on TerraVest Industries from C$126.00 to C$134.00 and gave the company a “sector perform” rating in a research note on Tuesday. Finally, Canaccord Genuity Group increased their target price on shares of TerraVest Industries from C$132.00 to C$170.00 and gave the company a “buy” rating in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$137.00.

TerraVest Industries Price Performance

The firm has a market cap of C$2.77 billion, a P/E ratio of 41.56 and a beta of 0.66. The business has a 50-day simple moving average of C$122.17 and a 200 day simple moving average of C$112.76. The company has a debt-to-equity ratio of 82.38, a quick ratio of 0.91 and a current ratio of 2.44.

TerraVest Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, April 10th will be given a $0.175 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from TerraVest Industries’s previous quarterly dividend of $0.15. This represents a $0.70 dividend on an annualized basis and a dividend yield of 0.50%. TerraVest Industries’s dividend payout ratio is currently 17.70%.

TerraVest Industries Company Profile

TerraVest Industries Inc manufactures and sells goods and services to energy, agriculture, mining, transportation, and other markets in Canada and the United States. It operates through four segments: Home Heating and Cooling Products (HVAC Equipment); Compressed Gas Storage and Distribution Equipment (Compressed Gas Equipment); Energy Processing Equipment (Processing Equipment); and Service.