TransAlta (TSE:TA) Stock Price Expected to Rise, Desjardins Analyst Says

TransAlta (TSE:TA) (NYSE:TAC) had its price objective boosted by stock analysts at Desjardins from C$15.50 to C$16.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has a “hold” rating on the stock. Desjardins’ price target would suggest a potential downside of 22.93% from the company’s previous close.

Several other equities analysts have also recently issued reports on TA. Scotiabank raised shares of TransAlta to a “strong-buy” rating in a research note on Thursday, December 5th. BMO Capital Markets lifted their price objective on shares of TransAlta from C$17.00 to C$22.00 in a research note on Monday. TD Securities lifted their price objective on shares of TransAlta from C$16.00 to C$18.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Royal Bank of Canada raised their target price on shares of TransAlta from C$14.00 to C$16.00 in a report on Wednesday, November 6th. Finally, National Bankshares raised their target price on shares of TransAlta from C$14.00 to C$15.00 and gave the stock an “outperform” rating in a report on Friday, August 23rd. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of C$17.08.

TransAlta Stock Performance

TSE:TA traded up C$0.21 during mid-day trading on Wednesday, hitting C$20.76. The stock had a trading volume of 1,225,063 shares, compared to its average volume of 1,122,066. The stock has a market capitalization of C$6.19 billion, a price-to-earnings ratio of 10.93, a P/E/G ratio of -0.07 and a beta of 0.93. The company has a 50 day simple moving average of C$15.36 and a 200-day simple moving average of C$12.50. TransAlta has a 52 week low of C$8.22 and a 52 week high of C$20.98. 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

In other TransAlta news, Director John Harry Kousinioris sold 45,000 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of C$17.67, for a total transaction of C$795,150.00. Also, Senior Officer Jane Nyla Fedoretz sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of C$13.92, for a total value of C$278,400.00. Over the last quarter, insiders have sold 189,584 shares of company stock valued at $3,027,809. 0.21% of the stock is owned by company insiders.

TransAlta Company Profile

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.