Desjardins Raises TransAlta (TSE:TA) Price Target to C$16.00

TransAlta (TSE:TA) (NYSE:TAC) had its target price lifted by equities research analysts at Desjardins from C$15.50 to C$16.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock. Desjardins’ target price would indicate a potential downside of 20.08% from the stock’s current price.

Other equities research analysts also recently 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. TD Securities lifted their target price on TransAlta from C$16.00 to C$18.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. National Bankshares increased their price target on TransAlta from C$14.00 to C$15.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. BMO Capital Markets boosted their price objective on TransAlta from C$17.00 to C$22.00 in a research report on Monday. Finally, Scotiabank upgraded TransAlta to a “strong-buy” rating in a research note on Thursday, December 5th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of C$17.08.

TransAlta Stock Down 0.7 %

Shares of TransAlta stock opened at C$20.02 on Wednesday. The company has a quick ratio of 0.62, a current ratio of 0.84 and a debt-to-equity ratio of 219.87. The business has a 50-day moving average price of C$15.59 and a 200 day moving average price of C$12.60. TransAlta has a fifty-two week low of C$8.22 and a fifty-two week high of C$20.98. The firm has a market cap of C$5.97 billion, a P/E ratio of 10.54, a P/E/G ratio of -0.07 and a beta of 0.93.

Insider Activity at TransAlta

In other news, Director John Harry Kousinioris sold 69,982 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of C$15.15, for a total value of C$1,060,227.30. Also, Senior Officer Jane Nyla Fedoretz sold 3,602 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of C$18.84, for a total value of C$67,861.68. Insiders have sold a total of 224,763 shares of company stock worth $3,757,070 over the last ninety days. 0.21% of the stock is currently owned by corporate insiders.

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.