ATB Capital Lowers TransAlta (TSE:TA) Price Target to C$18.00

TransAlta (TSE:TA) (NYSE:TAC) had its price target cut by equities researchers at ATB Capital from C$19.00 to C$18.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. ATB Capital’s price objective indicates a potential upside of 49.38% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. CIBC increased their price target on shares of TransAlta from C$18.50 to C$19.00 and gave the stock an “outperform” rating in a report on Thursday. TD Securities increased their target price 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. Scotiabank dropped their price target on TransAlta from C$17.00 to C$16.00 and set a “sector perform” rating for the company in a research note on Thursday. National Bankshares reduced their price objective on TransAlta from C$20.00 to C$16.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Cibc World Mkts upgraded TransAlta from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$18.00.

TransAlta Stock Up 1.7 %

Shares of TSE TA opened at C$12.05 on Thursday. The business has a 50-day moving average of C$12.79 and a 200-day moving average of C$15.42. The firm has a market capitalization of C$3.62 billion, a price-to-earnings ratio of 17.18, a PEG ratio of -0.07 and a beta of 0.93. The company has a current ratio of 0.74, a quick ratio of 0.62 and a debt-to-equity ratio of 229.66. TransAlta has a 12 month low of C$9.30 and a 12 month high of C$21.22.

Insider Activity at TransAlta

In related news, Senior Officer Joel E. Hunter purchased 45,000 shares of the firm’s stock in a transaction on Thursday, February 27th. The shares were acquired at an average cost of C$14.99 per share, with a total value of C$674,752.50. 0.21% of the stock is currently owned by company insiders.

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.