Scotiabank Forecasts Strong Price Appreciation for TerraVest Industries (TSE:TVK) Stock

TerraVest Industries (TSE:TVK - Free Report) had its price objective hoisted by Scotiabank from C$126.00 to C$140.00 in a research note released on Tuesday morning,BayStreet.CA reports. Scotiabank currently has an outperform rating on the stock.

TVK has been the subject of several other reports. Canaccord Genuity Group raised their price objective on TerraVest Industries from C$132.00 to C$170.00 and gave the company a "buy" rating in a research note on Tuesday. 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 raised 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, National Bank Financial downgraded TerraVest Industries from a "strong-buy" rating to a "hold" rating in a research report on Monday, November 25th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of C$137.00.

TerraVest Industries Price Performance

TSE TVK traded up C$3.22 during mid-day trading on Tuesday, hitting C$148.21. The stock had a trading volume of 309,805 shares, compared to its average volume of 112,501. TerraVest Industries has a 52-week low of C$56.35 and a 52-week high of C$149.51. The company has a market cap of C$2.91 billion, a price-to-earnings ratio of 43.73 and a beta of 0.66. The company has a 50 day simple moving average of C$123.43 and a 200 day simple moving average of C$113.23. The company has a quick ratio of 0.91, a current ratio of 2.44 and a debt-to-equity ratio of 82.38.

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TerraVest Industries Increases Dividend

The firm also recently disclosed 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 represents a $0.70 dividend on an annualized basis and a dividend yield of 0.47%. This is an increase from TerraVest Industries's previous quarterly dividend of $0.15. TerraVest Industries's 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.