TerraVest Industries (TSE:TVK) Stock Price Target Cut by Canadian Imperial Bank of Commerce

Key Points

• Canadian Imperial Bank of Commerce cut TerraVest Industries’ price target from C$148 to C$134, still implying 22.59% upside from the stock’s reported C$109.31 price.
• Analyst sentiment remains positive overall: TerraVest has three Buy and two Hold ratings, with a consensus rating of “Moderate Buy” and an average price target of C$150.80.
• Shares rose 0.9% in midday trading, while the company reported quarterly revenue of C$921.79 million and earnings of C$1.40 per share in its latest results.

TerraVest Industries (TSE:TVK - Get Free Report) had its price target cut by research analysts at Canadian Imperial Bank of Commerce from C$148.00 to C$134.00 in a research report issued to clients and investors on Thursday, BayStreet reports. Canadian Imperial Bank of Commerce's price objective would indicate a potential upside of 22.59% from the company's current price.

TVK has been the topic of a number of other research reports. Scotiabank raised their target price on shares of TerraVest Industries from C$129.00 to C$130.00 and gave the company a "sector perform" rating in a research note on Thursday, October 15th. BMO Capital Markets raised their price objective on TerraVest Industries from C$160.00 to C$170.00 in a research report on Friday, August 14th. Finally, National Bank Financial raised their price objective on TerraVest Industries from C$170.00 to C$180.00 in a research report on Friday, August 14th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of C$150.80.

TerraVest Industries Trading Up 0.9%

Shares of TSE TVK traded up C$0.95 during midday trading on Thursday, hitting C$109.31. The stock had a trading volume of 58,851 shares, compared to its average volume of 88,267. The company has a market capitalization of C$2.34 billion, a price-to-earnings ratio of 26.34 and a beta of 1.10. TerraVest Industries has a 1-year low of C$95.00 and a 1-year high of C$175.20. The company has a quick ratio of 0.91, a current ratio of 1.54 and a debt-to-equity ratio of 151.79. The company has a fifty day moving average price of C$114.59 and a 200 day moving average price of C$129.41.

TerraVest Industries (TSE:TVK - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported C$1.40 earnings per share (EPS) for the quarter. TerraVest Industries had a return on equity of 12.40% and a net margin of 5.35%. The business had revenue of C$921.79 million during the quarter. On average, analysts predict that TerraVest Industries will post 4.45 earnings per share for the current year.

About TerraVest Industries

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.

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