Canadian Imperial Bank of Commerce Issues Pessimistic Forecast for TerraVest Industries (TSE:TVK) Stock Price

TerraVest Industries (TSE:TVK) had its price target dropped by equities researchers at Canadian Imperial Bank of Commerce from C$160.00 to C$130.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has a “neutral” rating on the stock. Canadian Imperial Bank of Commerce’s price target indicates a potential upside of 14.14% from the stock’s previous close.

A number of other analysts have also recently weighed in on TVK. BMO Capital Markets lowered their target price on shares of TerraVest Industries from C$190.00 to C$170.00 in a research note on Friday, May 15th. National Bank Financial lowered their target price on shares of TerraVest Industries from C$175.00 to C$170.00 and set an “outperform” rating on the stock in a report on Friday, May 15th. Canaccord Genuity Group cut their price target on shares of TerraVest Industries from C$190.00 to C$140.00 and set a “buy” rating for the company in a report on Tuesday, June 9th. Finally, Scotiabank cut their target price on shares of TerraVest Industries from C$178.00 to C$172.00 and set a “sector outperform” rating for the company in a research note on Tuesday, May 19th. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, TerraVest Industries has a consensus rating of “Moderate Buy” and an average price target of C$159.50.

TerraVest Industries Stock Performance

TVK traded down C$4.17 during trading on Wednesday, hitting C$113.90. The stock had a trading volume of 50,979 shares, compared to its average volume of 102,603. The company has a current ratio of 1.49, a quick ratio of 0.91 and a debt-to-equity ratio of 145.05. TerraVest Industries has a 12 month low of C$95.00 and a 12 month high of C$175.20. The company has a 50 day simple moving average of C$129.30 and a 200-day simple moving average of C$140.85. The firm has a market cap of C$2.47 billion, a PE ratio of 34.83 and a beta of 0.90.

TerraVest Industries (TSE:TVK) last issued its quarterly earnings results on Thursday, May 14th. The company reported C$0.45 EPS for the quarter. TerraVest Industries had a return on equity of 9.99% and a net margin of 4.35%.The company had revenue of C$442.56 million for the quarter. Analysts expect that TerraVest Industries will post 4.4510412 EPS for the current year.

TerraVest Industries Company Profile

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.