TerraVest Industries (TSE:TVK) Reaches New 1-Year High Following Analyst Upgrade

Shares of TerraVest Industries Inc. (TSE:TVK) reached a new 52-week high during 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 traded. The stock had previously closed at C$131.04.

A number of other equities analysts also recently weighed in on TVK. Canaccord Genuity Group increased their price target on shares of TerraVest Industries from C$132.00 to C$170.00 and gave the stock a “buy” rating in a research note on Tuesday. National Bank Financial downgraded shares of TerraVest Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. National Bankshares boosted their price objective on shares of TerraVest Industries from C$126.00 to C$134.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Finally, Desjardins boosted their price objective on shares of TerraVest Industries from C$125.00 to C$150.00 and gave the stock a “buy” rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$137.00.

TerraVest Industries Price Performance

The company has a market cap of C$2.77 billion, a PE ratio of 41.56 and a beta of 0.66. The business’s 50 day moving average price is C$122.17 and its 200-day moving average price is C$112.76. The company has a quick ratio of 0.91, a current ratio of 2.44 and a debt-to-equity ratio of 82.38.

TerraVest Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, April 10th will be paid a dividend of $0.175 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.70 dividend on an annualized basis and a dividend yield of 0.50%. This is a positive change from TerraVest Industries’s previous quarterly dividend of $0.15. TerraVest Industries’s dividend payout ratio (DPR) 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.