TerraVest Industries (TSE:TVK) Trading Down 11% - What's Next?

Key Points

• TerraVest Industries shares fell by 11% to C$147.14 amid increased trading volume of 131,123 shares, compared to an average of 89,017 shares.
• Brokerages have mixed ratings on the stock, with National Bankshares lowering its price objective to C$200.00 while Canaccord Genuity raised it to C$200.00, indicating a general sentiment of a Moderate Buy consensus.
• The company declared a quarterly dividend of $0.175 per share, reflecting an annualized rate of $0.70 and a dividend yield of 0.5%.

TerraVest Industries Inc. (TSE:TVK - Get Free Report) dropped 11% on Wednesday . The company traded as low as C$147.00 and last traded at C$147.14. Approximately 131,123 shares traded hands during trading, an increase of 47% from the average daily volume of 89,017 shares. The stock had previously closed at C$165.41.

Wall Street Analyst Weigh In

TVK has been the topic of a number of recent research reports. National Bankshares dropped their price objective on TerraVest Industries from C$200.00 to C$185.00 and set an "outperform" rating on the stock in a research report on Friday. BMO Capital Markets lowered their price target on shares of TerraVest Industries from C$180.00 to C$175.00 in a report on Friday. National Bank Financial upgraded shares of TerraVest Industries from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 2nd. CIBC set a C$175.00 target price on shares of TerraVest Industries and gave the company a "neutral" rating in a research note on Wednesday, August 13th. Finally, Scotiabank cut 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 report on Friday. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of C$181.00.

TerraVest Industries Stock Down 1.2%

The company's 50-day moving average is C$164.83 and its 200 day moving average is C$148.80. The stock has a market capitalization of C$2.69 billion, a PE ratio of 40.49 and a beta of 0.66. The company has a current ratio of 2.44, a quick ratio of 0.91 and a debt-to-equity ratio of 82.38.

TerraVest Industries Announces Dividend

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

Insider Activity

In other TerraVest Industries news, Director Pierre Fournier sold 2,000 shares of the business's stock in a transaction dated Friday, July 11th. The stock was sold at an average price of C$165.75, for a total transaction of C$331,504.00. Also, Director Charles Pellerin sold 14,000 shares of the firm's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of C$165.10, for a total value of C$2,311,400.00. Insiders have sold 78,000 shares of company stock valued at $12,783,764 over the last ninety days. 29.81% of the stock is currently owned by 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.