National Bankshares Cuts TransAlta (TSE:TA) Price Target to C$16.00

TransAlta (TSE:TA) (NYSE:TAC) had its target price dropped by investment analysts at National Bankshares from C$20.00 to C$16.00 in a report issued on Thursday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. National Bankshares’ price target indicates a potential upside of 32.78% from the company’s current price.

TA has been the topic of several other research reports. Cibc World Mkts upgraded shares of TransAlta from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. Desjardins lowered their target price on TransAlta from C$16.00 to C$14.00 and set a “hold” rating on the stock in a research report on Tuesday. CIBC reduced their price target on TransAlta from C$19.50 to C$19.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. Royal Bank of Canada lowered their price target on TransAlta from C$23.00 to C$20.00 and set an “outperform” rating on the stock in a report on Thursday. Finally, Scotiabank reduced their price objective on shares of TransAlta from C$21.00 to C$17.00 and set a “sector perform” rating for the company in a report on Thursday, April 17th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, TransAlta currently has a consensus rating of “Moderate Buy” and an average target price of C$18.00.

TransAlta Stock Up 1.7 %

TransAlta stock opened at C$12.05 on Thursday. The firm has a market capitalization of C$3.62 billion, a P/E ratio of 17.18, a P/E/G ratio of -0.07 and a beta of 0.93. The company has a 50-day simple moving average of C$12.79 and a 200-day simple moving average of C$15.42. TransAlta has a one year low of C$9.30 and a one year high of C$21.22. 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 Activity at TransAlta

In other TransAlta news, Senior Officer Joel E. Hunter bought 45,000 shares of TransAlta stock in a transaction that occurred on Thursday, February 27th. The stock was purchased at an average cost of C$14.99 per share, for a total transaction of C$674,752.50. Company insiders own 0.21% of the company’s stock.

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.