TerraVest Industries (TSE:TVK) Share Price Passes Above 50-Day Moving Average – Here’s Why

TerraVest Industries Inc. (TSE:TVK)’s share price crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$134.56 and traded as high as C$165.00. TerraVest Industries shares last traded at C$163.48, with a volume of 12,743 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TVK. Scotiabank raised their price objective on shares of TerraVest Industries from C$165.00 to C$179.00 and gave the stock an “outperform” rating in a research report on Friday, December 12th. BMO Capital Markets upgraded shares of TerraVest Industries from a “hold” rating to an “outperform” rating and raised their price target for the stock from C$150.00 to C$200.00 in a report on Friday, December 12th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, TerraVest Industries currently has a consensus rating of “Buy” and a consensus price target of C$185.67.

TerraVest Industries Trading Down 0.5%

The company has a market capitalization of C$3.55 billion, a P/E ratio of 39.58 and a beta of 0.48. The company has a debt-to-equity ratio of 82.38, a current ratio of 2.44 and a quick ratio of 0.91. The firm has a fifty day moving average price of C$134.56 and a 200-day moving average price of C$147.21.

TerraVest Industries (TSE:TVK) last issued its quarterly earnings results on Thursday, December 11th. The company reported C$0.83 EPS for the quarter. The business had revenue of C$419.41 million for the quarter. TerraVest Industries had a return on equity of 20.85% and a net margin of 6.97%. On average, equities research analysts anticipate that TerraVest Industries Inc. 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.