ATB Capital Lowers TransAlta (TSE:TA) Price Target to C$18.00

TransAlta (TSE:TA) (NYSE:TAC) had its price objective lowered by equities researchers at ATB Capital from C$19.00 to C$18.00 in a research report issued on Thursday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. ATB Capital’s price target would indicate a potential upside of 49.38% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Desjardins cut their price target on shares of TransAlta from C$16.00 to C$14.00 and set a “hold” rating on the stock in a report on Tuesday. Cibc World Mkts raised shares of TransAlta from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. Scotiabank decreased their price target on shares of TransAlta from C$17.00 to C$16.00 and set a “sector perform” rating for the company in a research note on Thursday. National Bankshares cut their price objective on TransAlta from C$20.00 to C$16.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, TD Securities increased their target price 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 analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$18.00.

TransAlta Trading Up 1.7 %

TSE TA opened at C$12.05 on Thursday. The stock has a market cap of C$3.62 billion, a P/E ratio of 17.18, a price-to-earnings-growth ratio of -0.07 and a beta of 0.93. TransAlta has a fifty-two week low of C$9.30 and a fifty-two week high of C$21.22. The stock has a 50 day simple moving average of C$12.79 and a two-hundred day simple moving average of C$15.42. The company has a debt-to-equity ratio of 229.66, a quick ratio of 0.62 and a current ratio of 0.74.

Insider Buying and Selling

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

TransAlta Company Profile

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.