Scotiabank Has Lowered Expectations 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 reduced by equities research analysts at Scotiabank from C$180.00 to C$176.00 in a research report issued on Friday,BayStreet.CA reports. The brokerage presently has a "sector perform" rating on the stock. Scotiabank's price objective suggests a potential upside of 22.88% from the company's previous close.

Other research analysts have also issued reports about the stock. National Bank Financial upgraded shares of TerraVest Industries from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 2nd. BMO Capital Markets lowered their price target on TerraVest Industries from C$180.00 to C$175.00 in a research report on Friday, August 15th. CIBC set a C$175.00 price objective on TerraVest Industries and gave the stock a "neutral" rating in a research note on Wednesday, August 13th. Canaccord Genuity Group boosted 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. Finally, National Bankshares lowered their target price on TerraVest Industries from C$200.00 to C$185.00 and set an "outperform" rating on the stock in a report on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, TerraVest Industries presently has a consensus rating of "Moderate Buy" and a consensus price target of C$181.00.

TerraVest Industries Stock Performance

TVK stock traded up C$2.16 during midday trading on Friday, hitting C$143.23. 110,140 shares of the company traded hands, compared to its average volume of 92,221. TerraVest Industries has a twelve month low of C$90.32 and a twelve month high of C$176.64. The stock has a market capitalization of C$2.81 billion, a price-to-earnings ratio of 42.26 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 business has a 50 day simple moving average of C$163.72 and a 200-day simple moving average of C$148.71.

Insider Buying and Selling at TerraVest Industries

In other news, Director Charles Pellerin sold 14,000 shares of TerraVest Industries 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 business'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 value of C$331,504.00. Insiders sold a total of 78,000 shares of company stock valued at $12,783,764 in the last quarter. 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.