TerraVest Industries (TSE:TVK) Price Target Cut to C$175.00 by Analysts at Desjardins

Key Points

• Desjardins lowered the price target for TerraVest Industries from C$185.00 to C$175.00, indicating a potential upside of 24.88% from the company's last close, while maintaining a "buy" rating on the stock.
• Other analysts have varied stances, with CIBC setting a C$175.00 target and a "neutral" rating, while Canaccord Genuity raised its target to C$200.00 and maintained a "buy" rating.
• TerraVest Industries’ stock recently traded down 1.8%, with insider sales totaling over C$12 million in the last ninety days, raising questions about potential confidence in the stock's near-term performance.

TerraVest Industries (TSE:TVK - Free Report) had its price objective reduced by Desjardins from C$185.00 to C$175.00 in a research note issued to investors on Friday,BayStreet.CA reports. Desjardins currently has a buy rating on the stock.

A number of other research firms have also issued reports on TVK. National Bankshares reduced their target price on TerraVest Industries from C$200.00 to C$185.00 and set an "outperform" rating for the company in a report on Friday, August 15th. National Bank Financial raised TerraVest Industries from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 2nd. Canaccord Genuity Group raised their price objective on TerraVest Industries from C$170.00 to C$200.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. BMO Capital Markets dropped their target price on TerraVest Industries from C$180.00 to C$175.00 in a report on Friday, August 15th. Finally, CIBC set a C$175.00 price target on shares of TerraVest Industries and gave the stock a "neutral" rating in a research report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of C$181.00.

TerraVest Industries Trading Up 1.5%

Shares of TSE:TVK traded up C$2.16 during mid-day trading on Friday, hitting C$143.23. The stock had a trading volume of 110,140 shares, compared to its average volume of 92,221. 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 company has a market cap of C$2.81 billion, a PE ratio of 42.26 and a beta of 0.66. TerraVest Industries has a 12-month low of C$90.32 and a 12-month high of C$176.64. The company's 50 day moving average is C$163.72 and its 200-day moving average is C$148.71.

TerraVest Industries Dividend Announcement

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

Insider Transactions at TerraVest Industries

In related news, Director Dustin Haw sold 60,000 shares of the stock in a transaction that occurred on 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. Also, Director Pierre Fournier sold 2,000 shares of the firm's stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of C$165.75, for a total transaction of C$331,504.00. Insiders sold 78,000 shares of company stock valued at $12,783,764 in the last three months. Corporate 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.