TransAlta (TSE:TA) Price Target Raised to C$16.00

TransAlta (TSE:TA - Get Free Report) NYSE: TAC had its price objective boosted by Desjardins from C$15.50 to C$16.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has a "hold" rating on the stock. Desjardins' price objective would suggest a potential downside of 20.63% from the company's previous close.

A number of other brokerages have also issued reports on TA. National Bankshares lifted their price target on TransAlta from C$14.00 to C$15.00 and gave the stock an "outperform" rating in a research note on Friday, August 23rd. Scotiabank raised shares of TransAlta to a "strong-buy" rating in a research note on Thursday, December 5th. Royal Bank of Canada upped their target price on shares of TransAlta from C$14.00 to C$16.00 in a report on Wednesday, November 6th. BMO Capital Markets raised their price target on shares of TransAlta from C$17.00 to C$22.00 in a research note on Monday. Finally, TD Securities upped their price objective on shares of TransAlta from C$16.00 to C$18.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of C$17.08.

TransAlta Price Performance

Shares of TransAlta stock traded down C$0.39 on Wednesday, hitting C$20.16. The company's stock had a trading volume of 2,608,911 shares, compared to its average volume of 1,127,970. The company has a market capitalization of C$6.01 billion, a price-to-earnings ratio of 10.61, a price-to-earnings-growth ratio of -0.07 and a beta of 0.93. The firm has a fifty day moving average price of C$15.36 and a 200-day moving average price of C$12.50. 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$20.98.

Insider Buying and Selling at TransAlta

In related news, Senior Officer Jane Nyla Fedoretz sold 10,000 shares of the firm's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of C$19.41, for a total transaction of C$194,100.00. Also, Director John Harry Kousinioris sold 45,000 shares of the business's stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of C$17.67, for a total transaction of C$795,150.00. Insiders have sold 189,584 shares of company stock worth $3,027,809 in the last ninety days. 0.21% of the stock is owned by 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.