TerraVest Industries (TSE:TVK) Stock Crosses Below 50-Day Moving Average - Here's What Happened

Key Points

• TerraVest Industries shares fell below their 50-day moving average on Wednesday, trading as low as C$114.00 and last changing hands at C$116.58. The stock’s 50-day average was C$127.03, signaling recent price weakness.
• Several brokerages have cut price targets on the stock, including Scotiabank, BMO Capital Markets, National Bank Financial, CIBC, and Canaccord Genuity. Despite the cuts, the consensus rating remains Moderate Buy with an average target of C$159.50.
• The company recently reported quarterly earnings of C$0.45 per share on revenue of C$442.56 million, and analysts expect full-year EPS of about 4.45. TerraVest has a market cap of C$2.53 billion and a relatively high debt-to-equity ratio of 145.05.

TerraVest Industries Inc. (TSE:TVK - Get Free Report) crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$127.03 and traded as low as C$114.00. TerraVest Industries shares last traded at C$116.58, with a volume of 78,975 shares.

Analyst Ratings Changes

A number of brokerages have commented on TVK. Scotiabank lowered their target price on TerraVest Industries from C$178.00 to C$172.00 and set a "sector outperform" rating on the stock in a research note on Tuesday, May 19th. BMO Capital Markets dropped their target price on shares of TerraVest Industries from C$190.00 to C$170.00 in a report on Friday, May 15th. National Bank Financial dropped their price target on TerraVest Industries from C$175.00 to C$170.00 and set an "outperform" rating on the stock in a research report on Friday, May 15th. Canadian Imperial Bank of Commerce cut their price objective on shares of TerraVest Industries from C$160.00 to C$130.00 and set a "neutral" rating for the company in a research report on Wednesday, July 8th. Finally, Canaccord Genuity Group reduced their target price on TerraVest Industries from C$190.00 to C$140.00 and set a "buy" rating for the company in a research report on Tuesday, June 9th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, TerraVest Industries currently has an average rating of "Moderate Buy" and a consensus price target of C$159.50.

TerraVest Industries Price Performance

The company has a market capitalization of C$2.53 billion, a price-to-earnings ratio of 35.65 and a beta of 0.90. The company has a current ratio of 1.49, a quick ratio of 0.91 and a debt-to-equity ratio of 145.05. The company has a 50 day moving average price of C$127.03 and a 200 day moving average price of C$138.89.

TerraVest Industries (TSE:TVK - Get Free Report) last announced its quarterly earnings data on Thursday, May 14th. The company reported C$0.45 earnings per share for the quarter. The business had revenue of C$442.56 million for the quarter. TerraVest Industries had a net margin of 4.35% and a return on equity of 9.99%. As a group, equities research analysts forecast that TerraVest Industries Inc. will post 4.4510412 earnings per share for the current year.

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. The Fuel Containment segment is engaged in the manufacturing of bulk LPG transport trailers, LPG delivery & service trucks, bulk LPG storage tanks, residential & commercial LPG tanks, dispensers, and other products.

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