Desjardins Cuts TransAlta (TSE:TA) Price Target to C$18.00

TransAlta (TSE:TA) (NYSE:TAC) had its target price dropped by stock analysts at Desjardins from C$19.00 to C$18.00 in a report issued on Tuesday,BayStreet.CA reports. The firm presently has a “hold” rating on the stock. Desjardins’ price objective suggests a potential upside of 1.12% from the company’s previous close.

Several other research analysts also recently commented on the company. ATB Capital boosted their target price on TransAlta from C$26.00 to C$27.00 and gave the stock an “outperform” rating in a report on Wednesday, December 10th. National Bankshares lifted their price objective on TransAlta from C$18.00 to C$22.00 and gave the company a “sector perform” rating in a research report on Wednesday, December 10th. Jefferies Financial Group reduced their price objective on TransAlta from C$27.00 to C$22.00 in a research note on Wednesday, January 21st. Canadian Imperial Bank of Commerce raised their target price on TransAlta from C$25.00 to C$26.00 in a research note on Wednesday, December 17th. Finally, Scotiabank upped their price target 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. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, TransAlta currently has a consensus rating of “Moderate Buy” and an average price target of C$24.13.

TransAlta Price Performance

Shares of TransAlta stock traded down C$0.64 during trading on Tuesday, hitting C$17.80. 436,891 shares of the company’s stock traded hands, compared to its average volume of 1,170,542. The company has a debt-to-equity ratio of 229.66, a current ratio of 0.74 and a quick ratio of 0.62. The firm’s fifty day moving average price is C$17.94 and its 200 day moving average price is C$18.96. The company has a market cap of C$5.28 billion, a PE ratio of -27.81, a PEG ratio of -0.07 and a beta of 0.57. TransAlta has a twelve month low of C$11.16 and a twelve month high of C$25.03.

TransAlta (TSE:TA) (NYSE:TAC) last released its quarterly earnings data on Thursday, November 6th. The company reported C($0.02) earnings per share for the quarter. TransAlta had a net margin of 7.49% and a return on equity of 12.03%. The company had revenue of C$674.00 million during the quarter.

About TransAlta

TransAlta owns, operates and develops a diverse fleet of electrical power generation assets in Canada, the United States and Australia with a focus on long-term shareholder value. TransAlta provides municipalities, medium and large industries, businesses and utility customers with affordable, energy efficient and reliable power. Today, TransAlta is one of Canada’s largest producers of wind power and Alberta’s largest producer of thermal generation and hydro-electric power. For over 114 years, TransAlta has been a responsible operator and a proud member of the communities where we operate and where our employees work and live.