BMO Capital Markets Issues Pessimistic Forecast for TerraVest Industries (TSE:TVK) Stock Price

Key Points

• BMO Capital Markets has lowered its price target for TerraVest Industries from C$180.00 to C$175.00, suggesting a potential upside of 24.88% from the current stock price.
• TerraVest Industries' stock dropped by 1.8% to C$140.14, with a market capitalization of C$2.75 billion and a price-to-earnings ratio of 41.35.
• Insider trading activity includes significant sales, with corporate insiders selling 78,000 shares valued at over C$12 million in the last quarter.

TerraVest Industries (TSE:TVK - Free Report) had its price objective cut by BMO Capital Markets from C$180.00 to C$175.00 in a report published on Friday morning,BayStreet.CA reports.

A number of other analysts have also issued reports on the stock. Desjardins upgraded shares of TerraVest Industries to a "moderate buy" rating and lifted their price target for the stock from C$172.00 to C$175.00 in a research note on Thursday, May 22nd. CIBC set a C$175.00 price objective on shares of TerraVest Industries and gave the stock a "neutral" rating in a report on Wednesday, August 13th. Canaccord Genuity Group boosted their target price on shares of 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 reduced their price target on shares of TerraVest Industries from C$205.00 to C$200.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 5th. Finally, National Bank Financial upgraded TerraVest Industries from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 2nd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of C$181.00.

TerraVest Industries Stock Up 1.5%

TSE TVK traded up C$2.16 during mid-day trading on Friday, reaching C$143.23. 110,140 shares of the company's stock traded hands, compared to its average volume of 92,221. The company has a current ratio of 2.44, a quick ratio of 0.91 and a debt-to-equity ratio of 82.38. TerraVest Industries has a 1-year low of C$90.32 and a 1-year high of C$176.64. The company has a fifty day simple moving average of C$163.72 and a 200-day simple moving average of C$148.71. The company has a market cap of C$2.81 billion, a price-to-earnings ratio of 42.26 and a beta of 0.66.

TerraVest Industries Announces Dividend

The firm also recently disclosed 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. This represents a $0.70 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, June 30th. TerraVest Industries's dividend payout ratio is currently 17.70%.

Insiders Place Their Bets

In other news, Director Pierre Fournier sold 2,000 shares of the company'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 transaction of C$331,504.00. Also, Director Charles Pellerin sold 14,000 shares of the 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. Insiders have sold 78,000 shares of company stock valued at $12,783,764 over the last quarter. Insiders own 29.81% of the company's stock.

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.