TransAlta (TSE:TA) Trading Down 15.3% – Here’s Why

TransAlta Co. (TSE:TA) (NYSE:TAC) shares fell 15.3% during trading on Thursday . The stock traded as low as C$19.13 and last traded at C$20.17. 2,088,843 shares were traded during trading, an increase of 20% from the average session volume of 1,738,203 shares. The stock had previously closed at C$23.80.

Analysts Set New Price Targets

Several brokerages recently commented on TA. Scotiabank boosted their price target on TransAlta from C$23.00 to C$27.00 and gave the stock an “outperform” rating in a research report on Monday, October 20th. ATB Capital increased their price target on TransAlta from C$18.00 to C$20.00 and gave the stock an “outperform” rating in a report on Tuesday, August 5th. TD Securities increased their price target on TransAlta from C$20.00 to C$27.00 and gave the stock a “buy” rating in a report on Tuesday, October 28th. Jefferies Financial Group increased their target price on TransAlta from C$20.00 to C$27.00 and gave the stock a “buy” rating in a research note on Tuesday, October 14th. Finally, National Bankshares increased their price target on TransAlta from C$16.00 to C$17.00 and gave the company an “outperform” rating in a research report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, TransAlta presently has an average rating of “Buy” and a consensus target price of C$23.00.

TransAlta Trading Down 11.3%

The company has a current ratio of 0.74, a quick ratio of 0.62 and a debt-to-equity ratio of 229.66. The business has a fifty day moving average price of C$20.46 and a 200 day moving average price of C$16.74. The firm has a market cap of C$6.26 billion, a PE ratio of -39.11, a P/E/G ratio of -0.07 and a beta of 0.74.

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.