TerraVest Industries (TSE:TVK) Stock Price Passes Below 200-Day Moving Average - What's Next?

Key Points

• TerraVest Industries shares fell below their 200-day moving average of C$133.48, trading as low as C$118.04 before closing at C$120.43.
• Analysts have broadly reduced their price targets, but sentiment remains positive: five analysts rate the stock Buy and one rates it Hold, resulting in a “Moderate Buy” consensus and an average target of C$159.50.
• The company reported quarterly revenue of C$442.56 million and earnings of C$0.45 per share, while its financial profile included a 145.05 debt-to-equity ratio, 4.35% net margin, and 9.99% return on equity.

TerraVest Industries Inc. (TSE:TVK - Get Free Report) shares passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$133.48 and traded as low as C$118.04. TerraVest Industries shares last traded at C$120.43, with a volume of 39,119 shares.

Wall Street Analysts Forecast Growth

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

TerraVest Industries Stock Up 0.4%

The company has a debt-to-equity ratio of 145.05, a current ratio of 1.49 and a quick ratio of 0.91. The firm's 50-day moving average is C$120.49 and its 200 day moving average is C$133.48. The stock has a market cap of C$2.61 billion, a price-to-earnings ratio of 36.83 and a beta of 0.86.

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