TerraVest Industries (TSE:TVK) Shares Up 17.3% - Here's Why

Shares of TerraVest Industries Inc. (TSE:TVK - Get Free Report) shot up 17.3% during trading on Monday . The stock traded as high as C$128.00 and last traded at C$127.52. 108,954 shares traded hands during trading, an increase of 10% from the average session volume of 98,697 shares. The stock had previously closed at C$108.71.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. National Bank Financial cut shares of TerraVest Industries from a "strong-buy" rating to a "hold" rating in a research report on Monday, November 25th. Scotiabank increased their price target on shares of TerraVest Industries from C$126.00 to C$140.00 and gave the company an "outperform" rating in a research report on Tuesday. National Bankshares increased 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 research report on Tuesday. Canaccord Genuity Group increased their price target on shares of TerraVest Industries from C$132.00 to C$170.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, Desjardins increased their price target on shares of TerraVest Industries from C$125.00 to C$150.00 and gave the company a "buy" rating in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, TerraVest Industries presently has an average rating of "Moderate Buy" and an average price target of C$137.00.

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TerraVest Industries Stock Performance

The company's 50-day moving average price is C$122.77 and its 200 day moving average price is C$112.99. The company has a debt-to-equity ratio of 82.38, a quick ratio of 0.91 and a current ratio of 2.44. The stock has a market capitalization of C$2.93 billion, a PE ratio of 43.99 and a beta of 0.66.

TerraVest Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, April 10th will be paid a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 0.47%. This is a positive change from TerraVest Industries's previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Monday, March 31st. TerraVest Industries's dividend payout ratio (DPR) 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.