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

Cibc World Mkts upgraded shares of TransAlta (TSE:TA) (NYSE:TAC) from a hold rating to a strong-buy rating in a research note published on Tuesday,Zacks.com reports.

Other analysts also recently issued reports about the stock. Royal Bank of Canada raised their target price on shares of TransAlta from C$14.00 to C$16.00 in a report on Wednesday, November 6th. Scotiabank lowered shares of TransAlta from an “outperform” rating to a “sector perform” rating and raised their price objective for the stock from C$19.00 to C$21.00 in a report on Thursday, January 30th. Desjardins upped their target price 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. CIBC raised TransAlta from a “neutral” rating to an “outperform” rating and dropped their price target for the company from C$23.00 to C$19.50 in a research note on Tuesday. Finally, TD Securities upped their price objective on TransAlta from C$18.00 to C$19.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of C$18.36.

TransAlta Stock Up 0.9 %

Shares of TransAlta stock opened at C$15.03 on Tuesday. TransAlta has a 1 year low of C$8.22 and a 1 year high of C$21.22. 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 company has a market capitalization of C$4.51 billion, a P/E ratio of 21.42, a price-to-earnings-growth ratio of -0.07 and a beta of 0.93. The business has a 50-day moving average of C$18.44 and a two-hundred day moving average of C$15.15.

Insider Activity

In other TransAlta news, Director John Harry Kousinioris sold 69,982 shares of the company’s stock in a transaction 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. Also, Senior Officer Jane Nyla Fedoretz sold 3,602 shares of TransAlta stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of C$18.84, for a total transaction of C$67,861.68. Insiders sold 204,763 shares of company stock worth $3,478,670 in the last quarter. Corporate insiders own 0.21% of the company’s stock.

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.