TD Securities Issues Positive Forecast for TransAlta (TSE:TA) Stock Price

TransAlta (TSE:TA) (NYSE:TAC) had its price target hoisted by stock analysts at TD Securities from C$18.00 to C$19.00 in a report released on Tuesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ target price suggests a potential upside of 27.01% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Royal Bank of Canada boosted their price objective on shares of TransAlta from C$14.00 to C$16.00 in a research report on Wednesday, November 6th. Desjardins upped their price target on shares of TransAlta from C$15.50 to C$16.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. BMO Capital Markets upped their price target on shares of TransAlta from C$17.00 to C$22.00 in a research report on Monday, December 16th. Scotiabank lowered shares of TransAlta from an “outperform” rating to a “sector perform” rating and increased their price objective for the stock from C$19.00 to C$21.00 in a research report on Thursday, January 30th. Finally, CIBC downgraded shares of TransAlta from an “outperform” rating to a “neutral” rating and upped their target price for the company from C$17.00 to C$23.00 in a research note on Wednesday, January 8th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, TransAlta currently has an average rating of “Moderate Buy” and an average target price of C$18.86.

TransAlta Stock Performance

TSE TA traded down C$0.42 during trading on Tuesday, reaching C$14.96. The company’s stock had a trading volume of 702,162 shares, compared to its average volume of 2,277,848. 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 firm has a market cap of C$4.46 billion, a price-to-earnings ratio of 7.87, a P/E/G ratio of -0.07 and a beta of 0.93. TransAlta has a twelve month low of C$8.22 and a twelve month high of C$21.22. The business’s fifty day moving average price is C$18.68 and its 200-day moving average price is C$14.97.

Insider Buying and Selling at TransAlta

In related news, Senior Officer Jane Nyla Fedoretz sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of C$15.11, for a total transaction of C$377,750.00. Also, Director John Harry Kousinioris sold 35,179 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of C$20.73, for a total transaction of C$729,260.67. In the last 90 days, insiders have sold 204,763 shares of company stock valued at $3,478,670. Company insiders own 0.21% of the company’s stock.

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.