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

TerraVest Industries Inc. (TSE:TVK) 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.

TVK has been the subject of a number of other reports. National Bank Financial downgraded TerraVest Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. National Bankshares raised their target price on TerraVest Industries from C$126.00 to C$134.00 and gave the stock a “sector perform” rating in a report on Tuesday. Canaccord Genuity Group upped 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 report on Tuesday. Finally, Desjardins lifted their target price on TerraVest Industries from C$125.00 to C$150.00 and gave the company a “buy” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$137.00.

TerraVest Industries Trading Up 2.7 %

The company’s 50 day simple moving average is C$122.17 and its two-hundred day simple moving average 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. The company has a market capitalization of C$2.77 billion, a price-to-earnings ratio of 41.56 and a beta of 0.66.

TerraVest Industries Increases Dividend

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