TransAlta (TSE:TA) Price Target Cut to C$16.00 by Analysts at Scotiabank

TransAlta (TSE:TA) (NYSE:TAC) had its target price decreased by investment analysts at Scotiabank from C$17.00 to C$16.00 in a research note issued on Thursday,BayStreet.CA reports. The brokerage presently has a “sector perform” rating on the stock. Scotiabank’s target price would indicate a potential upside of 32.78% from the stock’s current price.

A number of other equities analysts have also recently issued reports on TA. TD Securities increased their price target on TransAlta from C$18.00 to C$19.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. National Bankshares cut their target price on shares of TransAlta from C$20.00 to C$16.00 and set an “outperform” rating on the stock in a research note on Thursday. CIBC raised 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. Cibc World Mkts upgraded shares of TransAlta from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 18th. Finally, Royal Bank of Canada reduced their target price on TransAlta from C$23.00 to C$20.00 and set an “outperform” rating for the company in a research note on Thursday. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$18.00.

TransAlta Stock Performance

Shares of TransAlta stock opened at C$12.05 on Thursday. The business has a 50-day moving average price of C$12.79 and a two-hundred day moving average price of C$15.42. TransAlta has a 1-year low of C$9.30 and a 1-year high of C$21.22. The company has a current ratio of 0.74, a quick ratio of 0.62 and a debt-to-equity ratio of 229.66. The company has a market cap of C$3.62 billion, a P/E ratio of 17.18, a PEG ratio of -0.07 and a beta of 0.93.

Insider Buying and Selling at TransAlta

In other news, Senior Officer Joel E. Hunter bought 45,000 shares of TransAlta stock in a transaction dated Thursday, February 27th. The stock was purchased at an average price of C$14.99 per share, for a total transaction of C$674,752.50. Company 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.