TransAlta (TSE:TA) Price Target Raised to C$19.00

TransAlta (TSE:TA) (NYSE:TAC) had its target price upped by TD Securities from C$18.00 to C$19.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts have also issued reports on TA. Royal Bank of Canada increased their target price on TransAlta from C$14.00 to C$16.00 in a research note on Wednesday, November 6th. BMO Capital Markets increased their price target on TransAlta from C$17.00 to C$22.00 in a research report on Monday, December 16th. Scotiabank lowered TransAlta from an “outperform” rating to a “sector perform” rating and increased their price target for the company from C$19.00 to C$21.00 in a research report on Thursday, January 30th. Cibc World Mkts lowered TransAlta from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Finally, Desjardins increased their price target on TransAlta from C$15.50 to C$16.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Four 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, TransAlta currently has an average rating of “Moderate Buy” and an average price target of C$18.86.

TransAlta Price Performance

TA opened at C$14.75 on Tuesday. The stock’s 50-day moving average price is C$18.63 and its 200 day moving average price is C$15.00. TransAlta has a 12-month low of C$8.22 and a 12-month high of C$21.22. The company has a current ratio of 0.74, a quick ratio of 0.62 and a debt-to-equity ratio of 229.66. The firm has a market cap of C$4.43 billion, a price-to-earnings ratio of 21.02, a PEG ratio of -0.07 and a beta of 0.93.

Insider Activity

In other news, Senior Officer Jane Nyla Fedoretz sold 25,000 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of C$15.11, for a total value of C$377,750.00. Also, Director John Harry Kousinioris sold 35,179 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of C$20.73, for a total value of C$729,260.67. In the last 90 days, insiders have sold 204,763 shares of company stock worth $3,478,670. 0.21% of the stock is currently owned by insiders.

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.