Brokerages Set TransAlta Co. (TSE:TA) Price Target at C$18.36

Shares of TransAlta Co. (TSE:TA) (NYSE:TAC) have been assigned an average recommendation of “Moderate Buy” from the six research firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is C$18.36.

Several research firms have issued reports on TA. 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. TD Securities raised 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. Cibc World Mkts upgraded TransAlta from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 18th. CIBC upgraded TransAlta from a “neutral” rating to an “outperform” rating and dropped their price objective for the company from C$23.00 to C$19.50 in a research note on Tuesday, February 18th. Finally, BMO Capital Markets lifted their target price on TransAlta from C$17.00 to C$22.00 in a research note on Monday, December 16th.

Insider Transactions at TransAlta

In related news, Director John Harry Kousinioris sold 35,179 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of C$20.73, for a total value of C$729,260.67. Also, Senior Officer Jane Nyla Fedoretz sold 3,602 shares of the company’s stock in a transaction on 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 sold a total of 48,786 shares of company stock worth $991,293 over the last quarter. Company insiders own 0.21% of the company’s stock.

TransAlta Price Performance

Shares of TSE TA opened at C$13.40 on Wednesday. The company has a debt-to-equity ratio of 229.66, a current ratio of 0.74 and a quick ratio of 0.62. The business has a 50-day moving average of C$17.02 and a 200-day moving average of C$15.46. The stock has a market capitalization of C$4.02 billion, a price-to-earnings ratio of 19.10, a PEG ratio of -0.07 and a beta of 0.93. TransAlta has a fifty-two week low of C$8.22 and a fifty-two week high of C$21.22.

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.