TransAlta (TSE:TA) Stock Price Down 16.1% – Should You Sell?

TransAlta Co. (TSE:TA) (NYSE:TAC)’s share price traded down 16.1% during trading on Thursday . The company traded as low as C$19.13 and last traded at C$19.98. 639,414 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 1,734,560 shares. The stock had previously closed at C$23.80.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Scotiabank boosted their target price on shares of TransAlta from C$23.00 to C$27.00 and gave the stock an “outperform” rating in a research report on Monday, October 20th. TD Securities decreased their price objective on shares of TransAlta from C$27.00 to C$26.00 and set a “buy” rating on the stock in a report on Friday. ATB Capital upped their target price on shares of TransAlta from C$18.00 to C$20.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 5th. National Bankshares increased their target price on shares of TransAlta from C$16.00 to C$17.00 and gave the company an “outperform” rating in a report on Tuesday, August 5th. Finally, Jefferies Financial Group boosted their price target on TransAlta from C$20.00 to C$27.00 and gave the stock a “buy” rating in a research note on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of C$22.89.

TransAlta Stock Up 3.0%

The business’s 50 day simple moving average is C$20.64 and its 200 day simple moving average is C$16.84. The company has a market capitalization of C$6.45 billion, a PE ratio of -40.31, a price-to-earnings-growth ratio of -0.07 and a beta of 0.74. The company has a quick ratio of 0.62, a current ratio of 0.74 and a debt-to-equity ratio of 229.66.

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.