TerraVest Industries (TSE:TVK) Share Price Passes Below 200 Day Moving Average – Here’s Why

TerraVest Industries Inc. (TSE:TVK) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$130.19 and traded as low as C$115.50. TerraVest Industries shares last traded at C$117.42, with a volume of 40,491 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TVK. National Bank Financial upped their target price on TerraVest Industries from C$170.00 to C$180.00 in a research report on Friday, August 14th. BMO Capital Markets upped their price objective on shares of TerraVest Industries from C$160.00 to C$170.00 in a report on Friday, August 14th. Scotiabank lowered shares of TerraVest Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 17th. Canadian Imperial Bank of Commerce lifted their target price on shares of TerraVest Industries from C$130.00 to C$148.00 in a research note on Friday, August 14th. Finally, Canaccord Genuity Group dropped their target price 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. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, TerraVest Industries presently has an average rating of “Moderate Buy” and an average target price of C$162.00.

TerraVest Industries Stock Performance

The company has a debt-to-equity ratio of 151.79, a quick ratio of 0.91 and a current ratio of 1.54. The firm’s 50 day simple moving average is C$118.49 and its 200 day simple moving average is C$130.01. The firm has a market capitalization of C$2.53 billion, a price-to-earnings ratio of 28.43 and a beta of 0.86.

TerraVest Industries (TSE:TVK) last released its quarterly earnings data on Thursday, August 13th. The company reported C$1.40 earnings per share for the quarter. TerraVest Industries had a net margin of 5.35% and a return on equity of 12.40%. The firm had revenue of C$921.79 million for the quarter. Sell-side analysts forecast 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.