TransAlta (TSE:TA) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

TransAlta (TSE:TA) (NYSE:TAC) had its target price lifted by analysts at Royal Bank of Canada from C$14.00 to C$16.00 in a report issued on Wednesday, BayStreet.CA reports. Royal Bank of Canada’s price objective would indicate a potential upside of 7.38% from the company’s previous close.

A number of other equities research analysts have also weighed in on the company. BMO Capital Markets boosted their target price on TransAlta from C$16.00 to C$17.00 in a research note on Thursday, September 5th. TD Securities increased their price target on shares of TransAlta from C$16.00 to C$18.00 and gave the company a “buy” rating in a research report on Wednesday. CIBC decreased their price objective on shares of TransAlta from C$16.50 to C$15.50 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. National Bankshares increased their target price on shares of TransAlta from C$14.00 to C$15.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. Finally, Desjardins set a C$15.50 price target on TransAlta and gave the company a “buy” rating in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of C$16.17.

TransAlta Trading Down 2.6 %

TSE:TA traded down C$0.40 during trading hours on Wednesday, reaching C$14.90. The company’s stock had a trading volume of 1,645,922 shares, compared to its average volume of 1,043,455. The firm has a 50-day simple moving average of C$13.39 and a 200-day simple moving average of C$11.12. The company has a debt-to-equity ratio of 219.87, a quick ratio of 0.62 and a current ratio of 0.84. TransAlta has a 1 year low of C$8.22 and a 1 year high of C$15.37. The firm has a market capitalization of C$4.44 billion, a price-to-earnings ratio of 7.84, a PEG ratio of -0.07 and a beta of 0.93.

Insider Activity

In related news, Senior Officer Kerry Lynn O’reilly sold 48,833 shares of TransAlta stock in a transaction dated Friday, August 9th. The shares were sold at an average price of C$10.99, for a total transaction of C$536,674.67. In related news, Senior Officer Kerry Lynn O’reilly sold 48,833 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of C$10.99, for a total value of C$536,674.67. Also, Senior Officer Jane Nyla Fedoretz sold 20,000 shares of the stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of C$13.92, for a total value of C$278,400.00. In the last 90 days, insiders have sold 78,839 shares of company stock worth $929,648. Corporate insiders own 0.21% of the company’s stock.

TransAlta Company Profile

TransAlta Corporation engages in the development, production, and sale of electric energy. It operates through Hydro, Wind and Solar, Gas, Energy Transition, and Energy Marketing segments. The Hydro segment holds interest of approximately 922 megawatts (MW) of owned hydroelectric generating capacity located in Alberta, British Columbia, and Ontario.