Scotiabank Issues Pessimistic Forecast for TerraVest Industries (TSE:TVK) Stock Price

Key Points

• Scotiabank has reduced its price target for TerraVest Industries from C$180.00 to C$176.00, while maintaining a "sector perform" rating, suggesting a potential upside of 25.59% from the current price.
• The stock of TerraVest Industries declined by 1.8% to C$140.14, with a market capitalization of C$2.75 billion and a current P/E ratio of 41.35.
• In the past three months, insiders sold 78,000 shares of the company, totaling approximately $12.78 million, indicating significant insider transactions.

TerraVest Industries (TSE:TVK - Get Free Report) had its price target dropped by equities research analysts at Scotiabank from C$180.00 to C$176.00 in a report issued on Friday,BayStreet.CA reports. The brokerage currently has a "sector perform" rating on the stock. Scotiabank's price target indicates a potential upside of 25.59% from the stock's current price.

Other research analysts have also issued research reports about the stock. National Bankshares dropped their price target on shares of TerraVest Industries from C$200.00 to C$185.00 and set an "outperform" rating for the company in a research report on Friday. 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. CIBC set a C$175.00 target price on TerraVest Industries and gave the stock a "neutral" rating in a research note on Wednesday. BMO Capital Markets decreased their price objective on shares of TerraVest Industries from C$180.00 to C$175.00 in a research note on Friday. Finally, Desjardins dropped their price objective on shares of TerraVest Industries from C$185.00 to C$175.00 and set a "buy" rating for the company in a research note on Friday. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of C$181.00.

TerraVest Industries Stock Down 1.8%

Shares of TerraVest Industries stock traded down C$2.64 during trading on Friday, hitting C$140.14. 205,226 shares of the stock traded hands, compared to its average volume of 91,512. The stock has a market cap of C$2.75 billion, a P/E ratio of 41.35 and a beta of 0.66. The company has a fifty day moving average price of C$166.02 and a two-hundred day moving average price of C$148.56. The company has a debt-to-equity ratio of 82.38, a quick ratio of 0.91 and a current ratio of 2.44. TerraVest Industries has a twelve month low of C$89.60 and a twelve month high of C$176.64.

Insider Activity

In related news, Director Charles Pellerin sold 14,000 shares of the company'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 value of C$2,311,400.00. Also, Director Dustin Haw sold 60,000 shares of the firm'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 sold 78,000 shares of company stock worth $12,783,764 over the last three months. 29.81% of the stock is currently owned by corporate insiders.

TerraVest Industries Company Profile

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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