Scotiabank Has Lowered Expectations for TerraVest Industries (TSE:TVK) Stock Price

TerraVest Industries (TSE:TVK) had its target price cut by equities researchers at Scotiabank from C$178.00 to C$172.00 in a research report issued on Tuesday,BayStreet.CA reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s price objective points to a potential upside of 34.29% from the company’s current price.

Several other equities research analysts have also recently weighed in on the stock. BMO Capital Markets reduced their price target on shares of TerraVest Industries from C$190.00 to C$170.00 in a research report on Friday. Canaccord Genuity Group reduced their price target on shares of TerraVest Industries from C$192.00 to C$190.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, National Bank Financial reduced their price target on shares of TerraVest Industries from C$175.00 to C$170.00 and set an “outperform” rating on the stock in a research report on Friday. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, TerraVest Industries currently has a consensus rating of “Moderate Buy” and an average target price of C$175.33.

TerraVest Industries Price Performance

Shares of TVK stock traded down C$4.67 during mid-day trading on Tuesday, hitting C$128.08. The company had a trading volume of 101,517 shares, compared to its average volume of 83,627. TerraVest Industries has a 52-week low of C$115.75 and a 52-week high of C$175.20. The stock’s 50 day moving average price is C$134.15 and its 200-day moving average price is C$141.06. 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 company has a market capitalization of C$2.78 billion, a P/E ratio of 39.17 and a beta of 0.83.

TerraVest Industries (TSE:TVK) 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$442.57 million for the quarter. Equities research analysts forecast that TerraVest Industries will post 4.4510412 earnings per share for the current 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.