Cibc World Mkts Downgrades TransAlta (TSE:TA) to Hold

TransAlta (TSE:TA - Get Free Report) NYSE: TAC was downgraded by equities research analysts at Cibc World Mkts from a "strong-buy" rating to a "hold" rating in a research note issued on Wednesday,Zacks.com reports.

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

TransAlta Price Performance

Shares of TA traded up C$0.07 during trading hours on Wednesday, reaching C$19.12. The stock had a trading volume of 2,262,816 shares, compared to its average volume of 2,455,930. 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 12 month low of C$8.22 and a 12 month high of C$20.98. The stock has a market capitalization of C$5.70 billion, a PE ratio of 10.06, a PEG ratio of -0.07 and a beta of 0.93. The company's 50-day moving average is C$17.45 and its two-hundred day moving average is C$13.77.

Insider Buying and Selling at TransAlta

In other news, Director John Harry Kousinioris sold 69,982 shares of the business's stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of C$15.15, for a total transaction of C$1,060,227.30. Also, Senior Officer Jane Nyla Fedoretz sold 25,000 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of C$15.11, for a total value of C$377,750.00. Over the last three months, insiders have sold 204,763 shares of company stock valued at $3,478,670. 0.21% of the stock is currently owned by company 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.