Desjardins Cuts TerraVest Industries (TSE:TVK) Price Target to C$175.00

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 - Get Free Report) had its price target lowered by Desjardins from C$185.00 to C$175.00 in a note issued to investors on Friday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. Desjardins' target price points to a potential upside of 24.88% from the company's previous close.

Several other analysts also recently commented on TVK. CIBC set a C$175.00 price target on shares of TerraVest Industries and gave the company a "neutral" rating in a research report on Wednesday. Canaccord Genuity Group boosted their target price 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. National Bankshares dropped their price target on TerraVest Industries from C$200.00 to C$185.00 and set an "outperform" rating for the company in a research report on Friday. BMO Capital Markets reduced their price target on TerraVest Industries from C$180.00 to C$175.00 in a research note on Friday. Finally, National Bank Financial raised shares of TerraVest Industries from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 2nd. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of C$181.00.

TerraVest Industries Stock Down 1.8%

TerraVest Industries stock traded down C$2.64 during midday trading on Friday, reaching C$140.14. The company's stock had a trading volume of 205,226 shares, compared to its average volume of 91,512. TerraVest Industries has a fifty-two week low of C$89.60 and a fifty-two week high of C$176.64. 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 company has a market cap of C$2.75 billion, a P/E ratio of 41.35 and a beta of 0.66. The business has a 50-day simple moving average of C$166.02 and a 200-day simple moving average of C$148.56.

Insider Activity

In other news, Director Charles Pellerin sold 14,000 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of C$165.10, for a total transaction of C$2,311,400.00. Also, Director Pierre Fournier sold 2,000 shares of the firm's stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of C$165.75, for a total value of C$331,504.00. Over the last ninety days, insiders have sold 78,000 shares of company stock worth $12,783,764. 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.

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