TerraVest Industries (TSE:TVK) Reaches New 12-Month High on Analyst Upgrade

TerraVest Industries Inc. (TSE:TVK - Get Free Report) shares 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 traded. The stock had previously closed at C$131.04.

Other equities research analysts have also recently issued reports about the company. National Bank Financial cut TerraVest Industries from a "strong-buy" rating to a "hold" rating in a report on Monday, November 25th. Desjardins increased 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. Canaccord Genuity Group raised their target price on shares of TerraVest Industries from C$132.00 to C$170.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, National Bankshares upped their price target on shares of TerraVest Industries from C$126.00 to C$134.00 and gave the company a "sector perform" rating in a report on Tuesday. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of C$137.00.

TerraVest Industries Stock Performance

The business has a fifty day moving average of C$123.43 and a 200 day moving average of C$113.35. The company has a market cap of C$2.91 billion, a P/E ratio of 43.73 and a beta of 0.66. 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 business also recently announced 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. This is a positive change 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 0.47%. TerraVest Industries's payout ratio is presently 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.