TransAlta (TSE:TA) Downgraded by CIBC to "Neutral"

TransAlta (TSE:TA - Get Free Report) NYSE: TAC was downgraded by CIBC from an "outperform" rating to a "neutral" rating in a report issued on Wednesday,BayStreet.CA reports. They currently have a C$23.00 target price on the stock, up from their prior target price of C$17.00. CIBC's target price would suggest a potential upside of 20.55% from the company's previous close.

A number of other analysts have also recently weighed in on TA. TD Securities raised their price objective on TransAlta from C$16.00 to C$18.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. BMO Capital Markets boosted their price target on TransAlta from C$17.00 to C$22.00 in a research note on Monday, December 16th. Desjardins upped their price objective on shares of TransAlta from C$15.50 to C$16.00 and gave the company a "hold" rating in a report on Wednesday, December 18th. Royal Bank of Canada lifted their target price on shares of TransAlta from C$14.00 to C$16.00 in a research note on Wednesday, November 6th. Finally, Scotiabank upgraded shares of TransAlta to a "strong-buy" rating in a research note on Thursday, December 5th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, TransAlta currently has a consensus rating of "Moderate Buy" and a consensus target price of C$18.33.

TransAlta Stock Down 2.4 %

TSE TA traded down C$0.46 during trading on Wednesday, reaching C$19.08. 3,560,283 shares of the company's stock traded hands, compared to its average volume of 2,798,718. The company's 50 day simple moving average is C$17.17 and its two-hundred day simple moving average is C$13.60. TransAlta has a 12-month low of C$8.22 and a 12-month high of C$20.98. The firm has a market cap of C$5.69 billion, a price-to-earnings ratio of 10.04, a price-to-earnings-growth ratio of -0.07 and a beta of 0.93. The company has a debt-to-equity ratio of 219.87, a current ratio of 0.84 and a quick ratio of 0.62.

Insider Buying and Selling at TransAlta

In other TransAlta news, Director John Harry Kousinioris sold 35,179 shares of the business'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. Also, Senior Officer Jane Nyla Fedoretz sold 10,000 shares of TransAlta stock in a transaction on Monday, December 16th. The shares were sold at an average price of C$19.41, for a total value of C$194,100.00. Insiders have sold 204,763 shares of company stock worth $3,478,670 over the last quarter. 0.21% of the stock is currently 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.