TransAlta (TSE:TA) Upgraded by CIBC to "Outperform" Rating

CIBC upgraded shares of TransAlta (TSE:TA - Free Report) NYSE: TAC from a neutral rating to an outperform rating in a report issued on Tuesday morning,BayStreet.CA reports. CIBC currently has C$19.50 price target on the stock, down from their previous price target of C$23.00.

A number of other equities research analysts have also recently issued reports on the stock. TD Securities upped their price target on shares of TransAlta from C$18.00 to C$19.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Cibc World Mkts downgraded TransAlta from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, January 8th. Desjardins lifted their price target on TransAlta from C$15.50 to C$16.00 and gave the stock a "hold" rating in a research report on Wednesday, December 18th. Scotiabank cut TransAlta from an "outperform" rating to a "sector perform" rating and increased their price objective for the company from C$19.00 to C$21.00 in a research report on Thursday, January 30th. Finally, BMO Capital Markets boosted their target price on shares of TransAlta from C$17.00 to C$22.00 in a research report on Monday, December 16th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, TransAlta has a consensus rating of "Moderate Buy" and an average price target of C$18.36.

TransAlta Stock Performance

Shares of TSE TA traded down C$0.47 during trading hours on Tuesday, hitting C$15.49. 3,089,989 shares of the stock were exchanged, compared to its average volume of 2,294,888. The company has a debt-to-equity ratio of 229.66, a current ratio of 0.74 and a quick ratio of 0.62. The company's 50 day moving average is C$18.24 and its 200 day moving average is C$15.18. The firm has a market capitalization of C$4.65 billion, a P/E ratio of 22.08, a P/E/G ratio of -0.07 and a beta of 0.93. TransAlta has a one year low of C$8.22 and a one year high of C$21.22.

Insider Buying and Selling

In related news, Director John Harry Kousinioris sold 45,000 shares of the business's stock in a transaction on Thursday, December 5th. The stock was sold at an average price of C$17.67, for a total value of C$795,150.00. Also, Senior Officer Jane Nyla Fedoretz sold 8,000 shares of the stock in a transaction on Thursday, November 28th. The stock was sold at an average price of C$15.49, for a total value of C$123,920.00. Insiders sold a total of 109,781 shares of company stock valued at $2,040,692 over the last ninety days. 0.21% of the stock is owned by company insiders.

About TransAlta

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.