Canadian Imperial Bank of Commerce Issues Positive Forecast for TerraVest Industries (TSE:TVK) Stock Price

Key Points

• CIBC raised TerraVest Industries’ price target to C$148 from C$130, implying 13.86% upside from the stock’s reported C$129.98 price.
• Analyst sentiment remains positive: five analysts rate the stock “Buy” and one rates it “Hold,” producing a consensus “Moderate Buy” rating and average target of C$164.17.
• TerraVest shares fell 2.6% in Friday trading. In its latest quarter, the company reported C$1.40 in earnings per share and C$921.79 million in revenue.

TerraVest Industries (TSE:TVK - Get Free Report) had its price target lifted by research analysts at Canadian Imperial Bank of Commerce from C$130.00 to C$148.00 in a report issued on Friday,BayStreet.CA reports. Canadian Imperial Bank of Commerce's price target suggests a potential upside of 13.86% from the stock's current price.

Several other equities research analysts also recently weighed in on TVK. Canaccord Genuity Group dropped their target price on shares of TerraVest Industries from C$190.00 to C$140.00 and set a "buy" rating for the company in a research report on Tuesday, June 9th. BMO Capital Markets lifted their price target on TerraVest Industries from C$160.00 to C$170.00 in a research note on Friday. Scotiabank lowered their price objective on TerraVest Industries from C$178.00 to C$172.00 and set a "sector outperform" rating for the company in a report on Tuesday, May 19th. Finally, National Bank Financial cut their price objective on TerraVest Industries from C$175.00 to C$170.00 and set an "outperform" rating on the stock in a research note on Friday, May 15th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, TerraVest Industries currently has a consensus rating of "Moderate Buy" and an average price target of C$164.17.

TerraVest Industries Stock Down 2.6%

Shares of TVK traded down C$3.45 during trading on Friday, reaching C$129.98. The company's stock had a trading volume of 71,928 shares, compared to its average volume of 98,074. The company has a market cap of C$2.82 billion, a price-to-earnings ratio of 39.75 and a beta of 0.86. The company has a quick ratio of 0.91, a current ratio of 1.49 and a debt-to-equity ratio of 145.05. The company has a fifty day moving average of C$118.09 and a two-hundred day moving average of C$132.61. TerraVest Industries has a twelve month low of C$95.00 and a twelve month high of C$175.20.

TerraVest Industries (TSE:TVK - Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The company reported C$1.40 earnings per share for the quarter. The business had revenue of C$921.79 million during the quarter. TerraVest Industries had a net margin of 4.35% and a return on equity of 9.99%. On average, sell-side analysts predict that TerraVest Industries will post 4.4510412 EPS for the current fiscal 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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