TransAlta (TSE:TA) Upgraded at CIBC

CIBC upgraded shares of TransAlta (TSE:TA) (NYSE:TAC) from a neutral rating to an outperform rating in a research report report published on Tuesday morning,BayStreet.CA reports. The brokerage currently has C$19.50 price objective on the stock, down from their previous price objective of C$23.00.

A number of other research firms have also recently commented on TA. BMO Capital Markets upped their price target on TransAlta from C$17.00 to C$22.00 in a research note on Monday, December 16th. Scotiabank cut shares of TransAlta from an “outperform” rating to a “sector perform” rating and boosted their price target for the stock from C$19.00 to C$21.00 in a report on Thursday, January 30th. Cibc World Mkts downgraded TransAlta from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 8th. Desjardins increased their target price on shares of TransAlta from C$15.50 to C$16.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Finally, TD Securities boosted their price objective on TransAlta from C$18.00 to C$19.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of C$18.36.

TransAlta Stock Performance

TSE TA opened at C$15.96 on Tuesday. The company has a debt-to-equity ratio of 229.66, a quick ratio of 0.62 and a current ratio of 0.74. TransAlta has a fifty-two week low of C$8.22 and a fifty-two week high of C$21.22. The stock’s fifty day moving average is C$18.24 and its two-hundred day moving average is C$15.18. The firm has a market capitalization of C$4.79 billion, a P/E ratio of 22.75, a price-to-earnings-growth ratio of -0.07 and a beta of 0.93.

Insider Buying and Selling at TransAlta

In related news, Senior Officer Jane Nyla Fedoretz sold 3,602 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of C$18.84, for a total transaction of C$67,861.68. Also, Director John Harry Kousinioris sold 45,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of C$17.67, for a total transaction of C$795,150.00. Insiders sold 109,781 shares of company stock valued at $2,040,692 over the last 90 days. 0.21% of the stock is owned by corporate 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.