Royal Bank of Canada Increases TransAlta (TSE:TA) Price Target to C$16.00

TransAlta (TSE:TA) (NYSE:TAC) had its target price upped by research analysts at Royal Bank of Canada from C$14.00 to C$16.00 in a research report issued to clients and investors on Wednesday, BayStreet.CA reports. Royal Bank of Canada’s price target points to a potential upside of 7.38% from the company’s previous close.

A number of other brokerages also recently weighed in on TA. National Bankshares boosted their target price 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. BMO Capital Markets upped their price objective on TransAlta from C$16.00 to C$17.00 in a research note on Thursday, September 5th. Desjardins set a C$15.50 target price on TransAlta and gave the stock a “buy” rating in a research note on Wednesday, October 30th. CIBC reduced their price target on shares of TransAlta from C$16.50 to C$15.50 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Finally, TD Securities lifted their price objective on shares of TransAlta from C$16.00 to C$18.00 and gave the stock a “buy” rating in a research report on Wednesday. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, TransAlta has a consensus rating of “Buy” and an average target price of C$16.17.

TransAlta Stock Down 2.6 %

Shares of TA stock traded down C$0.40 on Wednesday, hitting C$14.90. The stock had a trading volume of 1,645,922 shares, compared to its average volume of 1,043,455. The company has a debt-to-equity ratio of 219.87, a current ratio of 0.84 and a quick ratio of 0.62. The business has a 50 day moving average of C$13.39 and a 200 day moving average of C$11.12. TransAlta has a 12-month low of C$8.22 and a 12-month high of C$15.37. The stock has a market cap of C$4.44 billion, a price-to-earnings ratio of 7.84, a price-to-earnings-growth ratio of -0.07 and a beta of 0.93.

Insider Buying and Selling at TransAlta

In other news, Senior Officer Kerry Lynn O’reilly sold 48,833 shares of TransAlta stock in a transaction on Friday, August 9th. The stock was sold at an average price of C$10.99, for a total value of C$536,674.67. In other news, Senior Officer Jane Nyla Fedoretz sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of C$13.92, for a total value of C$278,400.00. Also, Senior Officer Kerry Lynn O’reilly sold 48,833 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of C$10.99, for a total transaction of C$536,674.67. Insiders have sold 78,839 shares of company stock valued at $929,648 in the last 90 days. 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.