TerraVest Industries (TSE:TVK) Hits New 52-Week High After Analyst Upgrade

Shares of TerraVest Industries Inc. (TSE:TVK) hit a new 52-week high 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. The stock had previously closed at C$131.04.

A number of other research analysts have also recently issued reports on the stock. Canaccord Genuity Group increased their target price on shares of TerraVest Industries from C$132.00 to C$170.00 and gave the company a “buy” rating in a report on Tuesday. 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 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, 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. Two 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 company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$137.00.

TerraVest Industries Trading Up 2.7 %

The company has a current ratio of 2.44, a quick ratio of 0.91 and a debt-to-equity ratio of 82.38. The business has a 50 day moving average of C$122.17 and a 200-day moving average of C$112.76. The stock has a market cap of C$2.77 billion, a PE ratio of 41.56 and a beta of 0.66.

TerraVest Industries Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.70 dividend on an annualized basis and a yield of 0.50%. This is a positive change from TerraVest Industries’s previous quarterly dividend of $0.15. TerraVest Industries’s dividend 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.