TransAlta (TSE:TA) Raised to Strong-Buy at Cibc World Mkts

TransAlta (TSE:TA) (NYSE:TAC) was upgraded by equities researchers at Cibc World Mkts from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

TA has been the subject of a number of other research reports. Royal Bank of Canada boosted their price target on TransAlta from C$14.00 to C$16.00 in a report on Wednesday, November 6th. Desjardins upped their target price on TransAlta from C$15.50 to C$16.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. CIBC upgraded TransAlta from a “neutral” rating to an “outperform” rating and cut their price target for the company from C$23.00 to C$19.50 in a research note on Tuesday. TD Securities lifted their price objective on TransAlta from C$18.00 to C$19.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Finally, BMO Capital Markets increased their target price on shares of TransAlta from C$17.00 to C$22.00 in a report on Monday, December 16th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$18.36.

TransAlta Trading Down 0.3 %

TA stock opened at C$14.99 on Tuesday. TransAlta has a 12 month low of C$8.22 and a 12 month high of C$21.22. The firm’s 50-day moving average is C$18.29 and its 200 day moving average is C$15.18. The company has a market capitalization of C$4.50 billion, a PE ratio of 21.37, a P/E/G ratio of -0.07 and a beta of 0.93. The company has a debt-to-equity ratio of 229.66, a current ratio of 0.74 and a quick ratio of 0.62.

Insider Buying and Selling at TransAlta

In related news, Senior Officer Jane Nyla Fedoretz sold 8,000 shares of the business’s stock in a transaction on Thursday, November 28th. The stock was 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 dated Friday, November 22nd. The shares were sold at an average price of C$15.15, for a total value of C$1,060,227.30. Over the last ninety days, insiders sold 179,763 shares of company stock valued at $3,100,920. 0.21% of the stock is currently owned by 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.