TransAlta (TSE:TA) Rating Lowered to Hold at Cibc World Mkts

TransAlta (TSE:TA) (NYSE:TAC) was downgraded by stock analysts at Cibc World Mkts from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other research firms have also issued reports on TA. Royal Bank of Canada lifted their target price on TransAlta from C$14.00 to C$16.00 in a research note on Wednesday, November 6th. Desjardins boosted their price objective on shares of TransAlta from C$15.50 to C$16.00 and gave the stock a “hold” rating in a research note on Wednesday, December 18th. CIBC downgraded shares of TransAlta from an “outperform” rating to a “neutral” rating and raised their target price for the company from C$17.00 to C$23.00 in a research note on Wednesday. TD Securities upped their price target on TransAlta from C$16.00 to C$18.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, BMO Capital Markets raised their price objective on TransAlta from C$17.00 to C$22.00 in a research report on Monday, December 16th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, TransAlta has an average rating of “Moderate Buy” and an average price target of C$18.33.

TransAlta Stock Up 0.4 %

Shares of TSE TA opened at C$19.12 on Wednesday. TransAlta has a 12-month low of C$8.22 and a 12-month high of C$20.98. The stock’s fifty day simple moving average is C$17.45 and its two-hundred day simple moving average is C$13.74. The stock has a market capitalization of C$5.70 billion, a PE ratio of 10.06, 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 Activity at TransAlta

In other news, Director John Harry Kousinioris sold 35,179 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of C$20.73, for a total value of C$729,260.67. Also, Senior Officer Jane Nyla Fedoretz sold 8,000 shares of the business’s stock in a transaction on Thursday, November 28th. The shares were sold at an average price of C$15.49, for a total transaction of C$123,920.00. Insiders have sold a total of 204,763 shares of company stock valued at $3,478,670 in the last ninety days. Company insiders own 0.21% of the company’s stock.

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.