TransAlta (TSE:TA) Price Target Raised to C$19.00 at CIBC

TransAlta (TSE:TA) (NYSE:TAC) had its price objective lifted by CIBC from C$18.50 to C$19.00 in a report issued on Thursday,BayStreet.CA reports. The firm currently has an outperform rating on the stock.

TA has been the topic of a number of other reports. Scotiabank dropped their price target on shares of TransAlta from C$21.00 to C$17.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 17th. TD Securities raised their price target on TransAlta from C$18.00 to C$19.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Desjardins lowered their price target on TransAlta from C$16.00 to C$14.00 and set a “hold” rating for the company in a research note on Tuesday. National Bankshares cut their price objective on shares of TransAlta from C$20.00 to C$16.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Cibc World Mkts raised shares of TransAlta from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$18.00.

TransAlta Stock Performance

Shares of TransAlta stock opened at C$11.85 on Thursday. TransAlta has a 12 month low of C$9.30 and a 12 month high of C$21.22. The company has a quick ratio of 0.62, a current ratio of 0.74 and a debt-to-equity ratio of 229.66. The stock has a market cap of C$3.56 billion, a PE ratio of 16.89, a price-to-earnings-growth ratio of -0.07 and a beta of 0.93. The business has a fifty day simple moving average of C$12.83 and a 200-day simple moving average of C$15.44.

Insider Activity

In related news, Senior Officer Joel E. Hunter bought 45,000 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was acquired at an average price of C$14.99 per share, for a total transaction of C$674,752.50. 0.21% of the stock is owned by company insiders.

About TransAlta

TransAlta is an independent power producer based in Alberta, Canada. The company operates a diverse and growing fleet of electrical power generation assets in Canada, the United States, and Australia consisting of hydro, wind, solar, battery storage, gas and energy transition facilities. The majority of the company’s revenues are derived from the sale of generation capacity, electricity, thermal energy, environmental attributes, and byproducts of power generation.