TerraVest Industries (TSE:TVK) Share Price Passes Below 50 Day Moving Average - Here's What Happened

TerraVest Industries Inc. (TSE:TVK - Get Free Report)'s stock price crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$165.42 and traded as low as C$163.00. TerraVest Industries shares last traded at C$170.05, with a volume of 54,099 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TVK shares. Desjardins raised shares of TerraVest Industries to a "moderate buy" rating and upped their price objective for the stock from C$172.00 to C$175.00 in a research report on Thursday, May 22nd. Scotiabank increased their target price on shares of TerraVest Industries from C$171.00 to C$176.00 and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. Canaccord Genuity Group raised their price objective on shares of TerraVest Industries from C$170.00 to C$200.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. BMO Capital Markets raised TerraVest Industries to a "hold" rating in a report on Tuesday, May 27th. Finally, National Bankshares upgraded TerraVest Industries from a "sector perform" rating to an "outperform" rating and raised their target price for the stock from C$134.00 to C$190.00 in a research note on Friday, May 2nd. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of C$185.25.

TerraVest Industries Stock Performance

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 company has a market cap of C$3.26 billion, a P/E ratio of 48.96 and a beta of 0.66. The business has a fifty day moving average of C$165.87 and a 200 day moving average of C$139.89.

TerraVest Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Thursday, July 10th will be issued a $0.175 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.70 dividend on an annualized basis and a yield of 0.42%. TerraVest Industries's dividend payout ratio (DPR) is 17.70%.

Insider Buying and Selling

In other news, Director Charles Pellerin sold 26,000 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of C$171.03, for a total transaction of C$4,446,780.00. Also, Director Pierre Fournier sold 2,000 shares of TerraVest Industries stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of C$169.93, for a total transaction of C$339,860.00. Insiders sold a total of 102,000 shares of company stock worth $16,899,040 in the last three months. 29.81% of the stock is owned by corporate insiders.

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.