TerraVest Industries (TSE:TVK) Stock Price Passes Above Fifty Day Moving Average - Here's Why

TerraVest Industries Inc. (TSE:TVK - Get Free Report) shares crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$152.89 and traded as high as C$169.63. TerraVest Industries shares last traded at C$169.63, with a volume of 49,052 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have commented on TVK shares. National Bank Financial raised TerraVest Industries from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 2nd. Scotiabank upped their price target on TerraVest Industries from C$171.00 to C$176.00 and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Desjardins raised TerraVest Industries to a "moderate buy" rating and upped their price target for the company from C$172.00 to C$175.00 in a research report on Thursday, May 22nd. Canaccord Genuity Group upped their price target on TerraVest Industries from C$170.00 to C$200.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Finally, BMO Capital Markets raised TerraVest Industries to a "hold" rating in a research report on Tuesday, May 27th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of C$185.25.

TerraVest Industries Price Performance

The stock has a market cap of C$3.29 billion, a P/E ratio of 49.50 and a beta of 0.66. The firm has a 50-day moving average price of C$155.87 and a 200-day moving average price of C$134.28. 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Thursday, April 10th were given a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend was Monday, March 31st. This is a positive change from TerraVest Industries's previous quarterly dividend of $0.15. TerraVest Industries's dividend payout ratio (DPR) is 17.70%.

Insider Activity at TerraVest Industries

In related news, Director Dustin Haw sold 60,000 shares of the firm's stock in a transaction that occurred on Monday, May 26th. The stock was sold at an average price of C$163.35, for a total transaction of C$9,801,000.00. Also, Director Charles Pellerin sold 14,000 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of C$165.10, for a total value of C$2,311,400.00. Insiders sold a total of 100,000 shares of company stock valued at $16,559,180 in the last 90 days. Corporate insiders own 29.81% of the company's stock.

TerraVest Industries Company Profile

TerraVest Industries Inc manufactures and sells goods and services to energy, agriculture, mining, transportation, and other markets in Canada and the United States. It operates through four segments: Home Heating and Cooling Products (HVAC Equipment); Compressed Gas Storage and Distribution Equipment (Compressed Gas Equipment); Energy Processing Equipment (Processing Equipment); and Service.