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

TerraVest Industries Inc. (TSE:TVK - Get Free Report) passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of C$140.86 and traded as high as C$173.49. TerraVest Industries shares last traded at C$170.42, with a volume of 151,004 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on TVK shares. Scotiabank raised their price target on TerraVest Industries from C$141.00 to C$171.00 and gave the stock an "outperform" rating in a research note on Monday, May 5th. Canaccord Genuity Group increased their target price on shares of TerraVest Industries from C$132.00 to C$170.00 and gave the stock a "buy" rating in a research report on Tuesday, March 18th. National Bankshares upgraded TerraVest Industries from a "sector perform" rating to an "outperform" rating and increased their target price for the stock from C$134.00 to C$190.00 in a report on Friday, May 2nd. Desjardins upped their price target on TerraVest Industries from C$150.00 to C$172.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Finally, National Bank Financial upgraded TerraVest Industries from a "hold" rating to a "strong-buy" rating in a report on Friday, May 2nd. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, TerraVest Industries currently has a consensus rating of "Buy" and a consensus target price of C$158.80.

TerraVest Industries Stock Down 0.3%

The company has a debt-to-equity ratio of 82.38, a current ratio of 2.44 and a quick ratio of 0.91. The company has a market cap of C$3.33 billion, a P/E ratio of 50.05 and a beta of 0.66. The stock has a 50-day moving average of C$144.47 and a 200 day moving average of C$127.79.

TerraVest Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Thursday, April 10th were issued a dividend of $0.175 per share. The ex-dividend date was Monday, March 31st. This is a positive change from TerraVest Industries's previous quarterly dividend of $0.15. This represents a $0.70 annualized dividend and a dividend yield of 0.41%. TerraVest Industries's payout ratio is 17.70%.

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.