BMO Capital Markets Forecasts Strong Price Appreciation for TransAlta (TSE:TA) Stock

TransAlta (TSE:TA) (NYSE:TAC) had its price target lifted by research analysts at BMO Capital Markets from C$17.00 to C$22.00 in a report released on Monday,BayStreet.CA reports. BMO Capital Markets’ target price indicates a potential upside of 12.94% from the company’s previous close.

Other analysts have also recently issued reports about the stock. Royal Bank of Canada raised their price target on shares of TransAlta from C$14.00 to C$16.00 in a report on Wednesday, November 6th. Desjardins lowered TransAlta from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, November 5th. TD Securities raised their price target on TransAlta from C$16.00 to C$18.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Scotiabank raised shares of TransAlta to a “strong-buy” rating in a research report on Thursday, December 5th. Finally, National Bankshares boosted their target price on shares of TransAlta from C$14.00 to C$15.00 and gave the stock an “outperform” rating in a research report on Friday, August 23rd. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of C$17.00.

TransAlta Stock Up 2.0 %

Shares of TA traded up C$0.39 during trading hours on Monday, hitting C$19.48. The company had a trading volume of 417,478 shares, compared to its average volume of 1,108,125. TransAlta has a one year low of C$8.22 and a one year high of C$19.74. The company’s fifty day moving average price is C$15.12 and its two-hundred day moving average price is C$12.35. The company has a market capitalization of C$5.81 billion, a PE ratio of 10.24, a price-to-earnings-growth ratio of -0.07 and a beta of 0.93. The company has a current ratio of 0.84, a quick ratio of 0.62 and a debt-to-equity ratio of 219.87.

Insider Buying and Selling at TransAlta

In other news, Senior Officer Jane Nyla Fedoretz sold 3,602 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of C$18.84, for a total value of C$67,861.68. Also, Director John Harry Kousinioris sold 69,982 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of C$15.15, for a total transaction of C$1,060,227.30. Over the last three months, insiders have sold 179,584 shares of company stock valued at $2,833,709. Company insiders own 0.21% of the company’s stock.

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.