TransAlta (TSE:TA) Rating Lowered to Neutral at CIBC

TransAlta (TSE:TA) (NYSE:TAC) was downgraded by analysts at CIBC from an “outperform” rating to a “neutral” rating in a research report issued on Wednesday,BayStreet.CA reports. They currently have a C$23.00 price objective on the stock, up from their prior price objective of C$17.00. CIBC’s price target suggests a potential upside of 20.73% from the company’s current price.

TA has been the topic of several other reports. Scotiabank upgraded TransAlta to a “strong-buy” rating in a research report on Thursday, December 5th. BMO Capital Markets lifted their price objective on shares of TransAlta from C$17.00 to C$22.00 in a research report on Monday, December 16th. Desjardins increased their target price on 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 price target on TransAlta from C$14.00 to C$16.00 in a report on Wednesday, November 6th. Finally, TD Securities increased their price objective on TransAlta from C$16.00 to C$18.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$18.33.

TransAlta Trading Down 0.2 %

Shares of TSE:TA opened at C$19.05 on Wednesday. TransAlta has a twelve month low of C$8.22 and a twelve month high of C$20.98. The company has a current ratio of 0.84, a quick ratio of 0.62 and a debt-to-equity ratio of 219.87. The firm has a market cap of C$5.68 billion, a P/E ratio of 10.03, a P/E/G ratio of -0.07 and a beta of 0.93. The company has a 50 day moving average of C$17.36 and a 200-day moving average of C$13.67.

Insider Buying and Selling at TransAlta

In other news, Director John Harry Kousinioris sold 35,179 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of C$20.73, for a total transaction of C$729,260.67. Also, Senior Officer Jane Nyla Fedoretz sold 10,000 shares of the stock in a transaction dated 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 sold 204,763 shares of company stock worth $3,478,670 over the last ninety days. 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.