Scotiabank Lowers TransAlta (TSE:TA) Price Target to C$17.00

TransAlta (TSE:TA) (NYSE:TAC) had its target price reduced by equities research analysts at Scotiabank from C$21.00 to C$17.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s price target suggests a potential upside of 40.85% from the company’s previous close.

Several other brokerages also recently issued reports on TA. CIBC upgraded shares of TransAlta from a “neutral” rating to an “outperform” rating and reduced their price target for the stock from C$23.00 to C$19.50 in a research report on Tuesday, February 18th. Cibc World Mkts upgraded shares of TransAlta from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. Desjardins raised their price target on shares of TransAlta from C$15.50 to C$16.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Finally, TD Securities upped their price objective on TransAlta from C$18.00 to C$19.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$17.79.

TransAlta Stock Up 0.7 %

TSE TA opened at C$12.07 on Thursday. The stock’s 50 day simple moving average is C$13.63 and its 200 day simple moving average is C$15.62. The company has a debt-to-equity ratio of 229.66, a current ratio of 0.74 and a quick ratio of 0.62. TransAlta has a one year low of C$8.55 and a one year high of C$21.22. The firm has a market cap of C$3.62 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of -0.07 and a beta of 0.93.

Insider Buying and Selling at TransAlta

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

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.