TD Securities Issues Positive Forecast for TransAlta (TSE:TA) Stock Price

TransAlta (TSE:TA) (NYSE:TAC) had its price objective lifted by equities research analysts at TD Securities from C$18.00 to C$19.00 in a report released on Tuesday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD Securities’ price objective points to a potential upside of 27.01% from the stock’s previous close.

TA has been the topic of several other reports. CIBC lowered shares of TransAlta from an “outperform” rating to a “neutral” rating and lifted their price target for the company from C$17.00 to C$23.00 in a report on Wednesday, January 8th. Cibc World Mkts downgraded shares of TransAlta from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 8th. BMO Capital Markets upped their price objective on shares of TransAlta from C$17.00 to C$22.00 in a report on Monday, December 16th. Scotiabank lowered shares of TransAlta from an “outperform” rating to a “sector perform” rating and upped their target price for the stock from C$19.00 to C$21.00 in a research note on Thursday, January 30th. Finally, Royal Bank of Canada increased their target price on shares of TransAlta from C$14.00 to C$16.00 in a research report on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, TransAlta presently has an average rating of “Moderate Buy” and an average target price of C$18.86.

TransAlta Stock Performance

Shares of TA traded down C$0.42 during midday trading on Tuesday, reaching C$14.96. The stock had a trading volume of 702,162 shares, compared to its average volume of 2,277,848. The firm has a 50 day simple moving average of C$18.68 and a 200-day simple moving average of C$14.97. TransAlta has a one year low of C$8.22 and a one year high of C$21.22. The firm has a market cap of C$4.46 billion, a PE ratio of 7.87, a P/E/G ratio of -0.07 and a beta of 0.93. The company has a current ratio of 0.84, a quick ratio of 0.62 and a debt-to-equity ratio of 219.87.

Insider Buying and Selling at TransAlta

In other news, Director John Harry Kousinioris sold 69,982 shares of the firm’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of C$15.15, for a total value of C$1,060,227.30. Also, Senior Officer Jane Nyla Fedoretz sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of C$15.11, for a total value of C$377,750.00. Insiders have sold 204,763 shares of company stock valued at $3,478,670 in the last quarter. 0.21% of the stock is owned by insiders.

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.