TransAlta (TSE:TA) Upgraded to Strong-Buy at Cibc World Mkts

Cibc World Mkts upgraded shares of TransAlta (TSE:TA) (NYSE:TAC) from a hold rating to a strong-buy rating in a report issued on Tuesday morning,Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. Royal Bank of Canada raised their price target on shares of TransAlta from C$14.00 to C$16.00 in a research note on Wednesday, November 6th. CIBC upgraded TransAlta from a “neutral” rating to an “outperform” rating and cut their target price for the stock from C$23.00 to C$19.50 in a research report on Tuesday. BMO Capital Markets boosted their price target on TransAlta from C$17.00 to C$22.00 in a research note on Monday, December 16th. Scotiabank lowered TransAlta from an “outperform” rating to a “sector perform” rating and increased their price objective for the stock from C$19.00 to C$21.00 in a research note on Thursday, January 30th. Finally, Desjardins boosted their target price on shares of TransAlta from C$15.50 to C$16.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Two equities research 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$18.36.

TransAlta Trading Up 0.9 %

Shares of TA stock opened at C$15.03 on Tuesday. The firm has a fifty day moving average of C$18.44 and a 200-day moving average of C$15.15. The stock has a market cap of C$4.51 billion, a price-to-earnings ratio of 21.42, a P/E/G ratio of -0.07 and a beta of 0.93. TransAlta has a 52-week low of C$8.22 and a 52-week high of C$21.22. The company has a debt-to-equity ratio of 229.66, a quick ratio of 0.62 and a current ratio of 0.74.

Insider Activity

In other TransAlta news, Director John Harry Kousinioris sold 69,982 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of C$15.15, for a total transaction of C$1,060,227.30. Also, Senior Officer Jane Nyla Fedoretz sold 25,000 shares of the business’s 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 transaction of C$377,750.00. Over the last ninety days, insiders sold 204,763 shares of company stock worth $3,478,670. 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.