Scotiabank Forecasts Strong Price Appreciation for TerraVest Industries (TSE:TVK) Stock

TerraVest Industries (TSE:TVK) had its target price increased by Scotiabank from C$126.00 to C$140.00 in a research report released on Tuesday morning,BayStreet.CA reports. The brokerage currently has an outperform rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Canaccord Genuity Group raised their price target on TerraVest Industries from C$132.00 to C$170.00 and gave the stock a “buy” rating in a research note on Tuesday. National Bank Financial downgraded TerraVest Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 25th. National Bankshares raised their price target on TerraVest Industries from C$126.00 to C$134.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Finally, Desjardins raised their price target on TerraVest Industries from C$125.00 to C$150.00 and gave the stock a “buy” rating in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$137.00.

TerraVest Industries Stock Up 2.9 %

Shares of TerraVest Industries stock opened at C$144.99 on Tuesday. The stock has a 50-day moving average price of C$122.77 and a 200 day moving average price of C$112.99. The company has a market cap of C$2.85 billion, a P/E ratio of 42.78 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 has a 1 year low of C$55.98 and a 1 year high of C$146.39.

TerraVest Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, April 10th will be issued a dividend of $0.175 per share. This is a positive change from TerraVest Industries’s previous quarterly dividend of $0.15. The ex-dividend date is Monday, March 31st. This represents a $0.70 dividend on an annualized basis and a dividend yield of 0.48%. TerraVest Industries’s dividend payout ratio is currently 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.