TerraVest Industries (TSE:TVK) Stock Passes Below 50 Day Moving Average - Here's Why

Key Points

• TerraVest Industries Inc. stock price has fallen below its fifty-day moving average, trading at C$150.01 after reaching a low of C$144.03.
• Analyst ratings for the company are mixed, with an average rating of "Moderate Buy" and a target price of C$185.20, following multiple upgrades from various research firms.
• The company recently announced a quarterly dividend of $0.175 per share, reflecting a 0.5% yield and a payout ratio of 17.70%.

Shares of TerraVest Industries Inc. (TSE:TVK - Get Free Report) crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$166.55 and traded as low as C$144.03. TerraVest Industries shares last traded at C$150.01, with a volume of 298,445 shares traded.

Analyst Ratings Changes

TVK has been the topic of several recent research reports. BMO Capital Markets decreased their price objective on TerraVest Industries from C$180.00 to C$175.00 in a report on Friday. Scotiabank decreased their price target on shares of TerraVest Industries from C$180.00 to C$176.00 and set a "sector perform" rating on the stock in a research note on Friday. CIBC set a C$175.00 price objective on shares of TerraVest Industries and gave the company a "neutral" rating in a research note on Wednesday, August 13th. National Bankshares reduced their price objective on shares of TerraVest Industries from C$200.00 to C$185.00 and set an "outperform" rating for the company in a report on Friday. Finally, Desjardins lowered their price target on TerraVest Industries from C$185.00 to C$175.00 and set a "buy" rating on the stock in a research report on Friday. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, TerraVest Industries has a consensus rating of "Moderate Buy" and an average price target of C$181.00.

TerraVest Industries Trading Down 1.7%

The business has a 50 day simple moving average of C$165.48 and a 200-day simple moving average of C$148.78. The stock has a market capitalization of C$2.68 billion, a price-to-earnings ratio of 40.32 and a beta of 0.66. The company has a debt-to-equity ratio of 82.38, a current ratio of 2.44 and a quick ratio of 0.91.

TerraVest Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Thursday, July 10th were paid a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Monday, June 30th. TerraVest Industries's dividend payout ratio is presently 17.70%.

Insider Buying and Selling

In other news, Director Dustin Haw sold 60,000 shares of the company's stock in a transaction that occurred on Monday, May 26th. The shares were sold at an average price of C$163.35, for a total value of C$9,801,000.00. Also, Director Pierre Fournier sold 2,000 shares of the firm's stock in a transaction 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. In the last three months, insiders sold 78,000 shares of company stock valued at $12,783,764. 29.81% of the stock is 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.