TransAlta (TSE:TA) Price Target Cut to C$17.00 by Analysts at Scotiabank

TransAlta (TSE:TA) (NYSE:TAC) had its price objective cut by Scotiabank from C$21.00 to C$17.00 in a report issued on Thursday morning,BayStreet.CA reports. They currently have a sector perform rating on the stock.

Other equities research analysts also recently issued reports about the company. TD Securities upped their price objective on TransAlta from C$18.00 to C$19.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Desjardins raised their price target on TransAlta from C$15.50 to C$16.00 and gave the stock a “hold” rating in a research report on Wednesday, December 18th. CIBC upgraded shares of TransAlta from a “neutral” rating to an “outperform” rating and cut their price objective for the company from C$23.00 to C$19.50 in a research report on Tuesday, February 18th. Finally, Cibc World Mkts upgraded shares of TransAlta from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 18th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, TransAlta currently has a consensus rating of “Moderate Buy” and a consensus price target of C$17.79.

TransAlta Price Performance

Shares of TransAlta stock opened at C$12.07 on Thursday. The company has a current ratio of 0.74, a quick ratio of 0.62 and a debt-to-equity ratio of 229.66. TransAlta has a 12 month low of C$8.55 and a 12 month high of C$21.22. The stock has a 50 day moving average of C$13.69 and a 200 day moving average of C$15.63. The firm has a market cap of C$3.62 billion, a PE ratio of 17.20, a PEG ratio of -0.07 and a beta of 0.93.

Insider Buying and Selling

In other news, Senior Officer Joel E. Hunter purchased 45,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were acquired at an average price of C$14.99 per share, with a total value of C$674,752.50. 0.21% of the stock is currently owned by 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.