TerraVest Industries (TSE:TVK) Sets New 1-Year High – Here’s Why

TerraVest Industries Inc. (TSE:TVK) shares reached a new 52-week high during trading on Monday . The company traded as high as C$150.27 and last traded at C$150.26, with a volume of 11164 shares trading hands. The stock had previously closed at C$148.21.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on TVK shares. Canaccord Genuity Group raised their target price on TerraVest Industries from C$132.00 to C$170.00 and gave the company a “buy” rating in a research note on Tuesday, March 18th. National Bank Financial cut TerraVest Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. Desjardins raised their price objective on TerraVest Industries from C$125.00 to C$150.00 and gave the company a “buy” rating in a research report on Tuesday, March 18th. National Bankshares raised their price objective on TerraVest Industries from C$126.00 to C$134.00 and gave the company a “sector perform” rating in a research report on Tuesday, March 18th. Finally, Scotiabank raised their price objective on TerraVest Industries from C$126.00 to C$140.00 and gave the company an “outperform” rating in a research report on Tuesday, March 18th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$137.00.

TerraVest Industries Trading Up 2.2 %

The firm has a market cap of C$2.97 billion, a P/E ratio of 44.68 and a beta of 0.66. The stock has a fifty day simple moving average of C$123.43 and a 200 day simple moving average of C$113.49. The company has a debt-to-equity ratio of 82.38, a quick ratio of 0.91 and a current ratio of 2.44.

TerraVest Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, April 10th will be issued a $0.175 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.70 annualized dividend and a dividend yield of 0.46%. This is a positive change from TerraVest Industries’s previous quarterly dividend of $0.15. TerraVest Industries’s payout ratio is presently 17.70%.

About TerraVest Industries

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.