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

TransAlta (TSE:TA) (NYSE:TAC) had its price objective raised 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 presently has a “buy” rating on the stock. TD Securities’ price target would suggest a potential upside of 27.43% from the company’s previous close.

Several other research firms also recently commented on TA. Royal Bank of Canada increased their price objective on shares of TransAlta from C$14.00 to C$16.00 in a report on Wednesday, November 6th. 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. CIBC downgraded TransAlta from an “outperform” rating to a “neutral” rating and lifted their price objective for the stock from C$17.00 to C$23.00 in a research note on Wednesday, January 8th. Scotiabank downgraded TransAlta from an “outperform” rating to a “sector perform” rating and increased their target price for the company from C$19.00 to C$21.00 in a research report on Thursday, January 30th. Finally, BMO Capital Markets raised their target price on shares of TransAlta from C$17.00 to C$22.00 in a report on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$18.86.

TransAlta Price Performance

TA stock opened at C$14.91 on Tuesday. The company has a debt-to-equity ratio of 219.87, a quick ratio of 0.62 and a current ratio of 0.84. The company’s fifty day moving average price is C$18.65 and its 200-day moving average price is C$15.00. TransAlta has a one year low of C$8.22 and a one year high of C$21.22. The company has a market capitalization of C$4.44 billion, a PE ratio of 7.85, a price-to-earnings-growth ratio of -0.07 and a beta of 0.93.

Insider Activity

In related news, Senior Officer Jane Nyla Fedoretz sold 3,602 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of C$18.84, for a total transaction of C$67,861.68. Also, Director John Harry Kousinioris sold 35,179 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were 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 valued at $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.