TD Securities Forecasts Strong Price Appreciation for TransAlta (TSE:TA) Stock

TransAlta (TSE:TA) (NYSE:TAC) had its price objective boosted by investment analysts at TD Securities from C$18.00 to C$19.00 in a research note issued on Tuesday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. TD Securities’ price objective would suggest a potential upside of 27.43% from the stock’s previous close.

Several other equities analysts also recently weighed in on TA. BMO Capital Markets lifted their target price on shares of TransAlta from C$17.00 to C$22.00 in a research note on Monday, December 16th. Desjardins increased their price target on shares of TransAlta from C$15.50 to C$16.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. Scotiabank cut shares of TransAlta from an “outperform” rating to a “sector perform” rating and boosted their price objective for the company from C$19.00 to C$21.00 in a research note on Thursday, January 30th. CIBC lowered shares of TransAlta from an “outperform” rating to a “neutral” rating and upped their target price for the stock from C$17.00 to C$23.00 in a report on Wednesday, January 8th. Finally, Cibc World Mkts downgraded shares of TransAlta from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 8th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$18.86.

TransAlta Trading Down 1.1 %

TSE TA opened at C$14.91 on Tuesday. The business’s fifty day moving average is C$18.65 and its 200-day moving average is C$15.00. The company has a debt-to-equity ratio of 219.87, a current ratio of 0.84 and a quick ratio of 0.62. The stock has a market capitalization of C$4.44 billion, a price-to-earnings ratio of 7.85, a PEG ratio of -0.07 and a beta of 0.93. TransAlta has a one year low of C$8.22 and a one year high of C$21.22.

Insider Buying and Selling

In other news, Senior Officer Jane Nyla Fedoretz sold 25,000 shares of TransAlta stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of C$15.11, for a total value of C$377,750.00. Also, Director John Harry Kousinioris sold 69,982 shares of the firm’s stock in a transaction 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 a total of 204,763 shares of company stock valued at $3,478,670 over the last three months. 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.