CIBC Upgrades TransAlta (TSE:TA) to Outperform

TransAlta (TSE:TA) (NYSE:TAC) was upgraded by stock analysts at CIBC from a “neutral” rating to an “outperform” rating in a research note issued to investors on Tuesday,BayStreet.CA reports. The firm currently has a C$19.50 price target on the stock, down from their prior price target of C$23.00. CIBC’s target price indicates a potential upside of 29.14% from the company’s previous close.

Other equities analysts have also issued reports about the company. Cibc World Mkts lowered TransAlta from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 8th. BMO Capital Markets upped their target price on TransAlta from C$17.00 to C$22.00 in a research report on Monday, December 16th. Scotiabank downgraded TransAlta from an “outperform” rating to a “sector perform” rating and upped their target price for the stock from C$19.00 to C$21.00 in a research report on Thursday, January 30th. Royal Bank of Canada boosted their price target on TransAlta from C$14.00 to C$16.00 in a research note on Wednesday, November 6th. Finally, Desjardins boosted their price target on TransAlta from C$15.50 to C$16.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$18.36.

TransAlta Price Performance

TransAlta stock traded up C$0.21 during mid-day trading on Tuesday, hitting C$15.10. 433,839 shares of the company were exchanged, compared to its average volume of 2,177,441. The company has a debt-to-equity ratio of 229.66, a current ratio of 0.74 and a quick ratio of 0.62. The business’s 50 day simple moving average is C$18.44 and its two-hundred day simple moving average is C$15.15. The company has a market capitalization of C$4.53 billion, a P/E ratio of 21.52, a PEG ratio of -0.07 and a beta of 0.93. TransAlta has a 12-month low of C$8.22 and a 12-month high of C$21.22.

Insider Buying and Selling at TransAlta

In other news, Senior Officer Jane Nyla Fedoretz sold 3,602 shares of the 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 69,982 shares of the 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 value of C$1,060,227.30. Insiders have sold 204,763 shares of company stock worth $3,478,670 over the last quarter. 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.