TransAlta (TSE:TA) Upgraded to “Outperform” at CIBC

CIBC upgraded shares of TransAlta (TSE:TA) (NYSE:TAC) from a neutral rating to an outperform rating in a research report report published on Tuesday,BayStreet.CA reports. They currently have C$19.50 target price on the stock, down from their prior target price of C$23.00.

TA has been the subject of a number of other reports. 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 note 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 note on Monday, December 16th. Scotiabank lowered shares of TransAlta from an “outperform” rating to a “sector perform” rating and upped their price target for the stock from C$19.00 to C$21.00 in a research note on Thursday, January 30th. Cibc World Mkts lowered shares of TransAlta from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 8th. Finally, TD Securities increased their target price on shares of TransAlta from C$18.00 to C$19.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$18.36.

TransAlta Trading Up 0.9 %

Shares of TSE:TA opened at C$15.03 on Tuesday. The company has a 50 day moving average of C$18.44 and a 200-day moving average of C$15.15. The firm has a market cap of C$4.51 billion, a P/E ratio of 21.42, 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 company has a current ratio of 0.74, a quick ratio of 0.62 and a debt-to-equity ratio of 229.66.

Insider Activity

In other news, Senior Officer Jane Nyla Fedoretz sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, November 28th. The shares were sold at an average price of C$15.49, for a total transaction of C$123,920.00. Also, Director John Harry Kousinioris sold 69,982 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of C$15.15, for a total transaction of C$1,060,227.30. Insiders have sold 204,763 shares of company stock worth $3,478,670 over the last 90 days. 0.21% of the stock is 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.