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

Shares of TerraVest Industries Inc. (TSE:TVK) passed below its fifty day moving average during trading on Thursday . The stock has a fifty 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 changing hands.

Analyst Ratings Changes

TVK has been the subject of a number of recent research reports. Canaccord Genuity Group cut their price objective on TerraVest Industries from C$190.00 to C$140.00 and set a “buy” rating for the company in a research report on Tuesday, June 9th. Canadian Imperial Bank of Commerce cut their price target on 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 reduced their price objective on TerraVest Industries from C$175.00 to C$170.00 and set an “outperform” rating on the stock in a research report on Friday, May 15th. BMO Capital Markets decreased their price objective on TerraVest Industries from C$190.00 to C$170.00 in a research note on Friday, May 15th. Finally, Scotiabank decreased their price objective on 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$159.50.

TerraVest Industries Stock Down 3.0%

The firm’s 50 day moving average is C$125.67 and its 200-day moving average is C$136.84. The firm has a market cap of C$2.51 billion, a PE ratio of 35.45 and a beta of 0.90. The company has a quick ratio of 0.91, a current ratio of 1.49 and a debt-to-equity ratio of 145.05.

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

TerraVest Industries Company Profile

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.