TerraVest Industries (TSE:TVK) Given a C$175.00 Price Target by CIBC Analysts

Key Points

• CIBC has set a price target of C$175.00 for TerraVest Industries, indicating a potential upside of 16.17% from its current price, while maintaining a "neutral" rating on the stock.
• Several analysts have varied ratings on TerraVest, with BMO Capital raising it to "hold," Scotiabank increasing its target to C$176.00 with an "outperform" rating, and Canaccord Genuity giving it a "buy" rating with a target of C$200.00.
• In the last quarter, insiders sold 104,000 shares worth approximately $17.23 million, and corporate insiders currently own 29.81% of the company stock.

CIBC set a C$175.00 price objective on TerraVest Industries (TSE:TVK - Free Report) in a research report sent to investors on Wednesday morning,BayStreet.CA reports. The firm currently has a neutral rating on the stock.

Several other research analysts have also recently issued reports on TVK. National Bank Financial raised shares of TerraVest Industries from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. Desjardins upgraded TerraVest Industries to a "moderate buy" rating and boosted their target price for the stock from C$172.00 to C$175.00 in a research report on Thursday, May 22nd. National Bankshares cut their target price on TerraVest Industries from C$205.00 to C$200.00 and set an "outperform" rating for the company in a research note on Tuesday, August 5th. Canaccord Genuity Group raised their price target on TerraVest Industries from C$170.00 to C$200.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. Finally, Scotiabank lifted their price target on TerraVest Industries from C$171.00 to C$176.00 and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of C$181.00.

TerraVest Industries Stock Performance

Shares of TSE TVK traded down C$1.71 during mid-day trading on Wednesday, hitting C$137.25. 78,330 shares of the company were exchanged, compared to its average volume of 91,691. TerraVest Industries has a 1-year low of C$89.60 and a 1-year high of C$176.64. The firm has a market cap of C$2.69 billion, a price-to-earnings ratio of 40.49 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. The stock has a 50 day simple moving average of C$164.83 and a 200-day simple moving average of C$148.80.

TerraVest Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Thursday, July 10th were given a dividend of $0.175 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.70 annualized dividend and a yield of 0.5%. TerraVest Industries's dividend payout ratio is 17.70%.

Insiders Place Their Bets

In related news, Director Charles Pellerin sold 14,000 shares of TerraVest Industries stock in a transaction on Thursday, May 29th. The stock was sold at an average price of C$165.10, for a total value of C$2,311,400.00. Also, Director Dustin Haw sold 60,000 shares of the company's stock in a transaction dated Monday, May 26th. The stock was sold at an average price of C$163.35, for a total value of C$9,801,000.00. Insiders have sold a total of 78,000 shares of company stock valued at $12,783,764 over the last quarter. Company insiders own 29.81% of the company's stock.

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.