TransAlta (TSE:TA) Cut to Neutral at CIBC

TransAlta (TSE:TA) (NYSE:TAC) was downgraded by stock analysts at CIBC from an “outperform” rating to a “neutral” rating in a report released on Wednesday,BayStreet.CA reports. They currently have a C$23.00 price objective on the stock, up from their prior price objective of C$17.00. CIBC’s target price indicates a potential upside of 20.73% from the stock’s current price.

TA has been the subject of a number of other reports. TD Securities raised their price objective on shares of TransAlta from C$16.00 to C$18.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Desjardins lifted their price objective on TransAlta from C$15.50 to C$16.00 and gave the company a “hold” rating in a report on Wednesday, December 18th. Royal Bank of Canada upped their target price on shares of TransAlta from C$14.00 to C$16.00 in a report on Wednesday, November 6th. BMO Capital Markets lifted their price target on shares of TransAlta from C$17.00 to C$22.00 in a report on Monday, December 16th. Finally, Scotiabank raised shares of TransAlta to a “strong-buy” rating in a research note on Thursday, December 5th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, TransAlta currently has an average rating of “Moderate Buy” and a consensus price target of C$18.33.

TransAlta Price Performance

TSE:TA opened at C$19.05 on Wednesday. The company has a debt-to-equity ratio of 219.87, a current ratio of 0.84 and a quick ratio of 0.62. TransAlta has a one year low of C$8.22 and a one year high of C$20.98. The company has a fifty day moving average price of C$17.36 and a 200 day moving average price of C$13.67. The stock has a market cap of C$5.68 billion, a P/E ratio of 10.03, a PEG ratio of -0.07 and a beta of 0.93.

Insider Buying and Selling at TransAlta

In other news, Senior Officer Jane Nyla Fedoretz sold 10,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of C$19.41, for a total value of C$194,100.00. Also, Director John Harry Kousinioris sold 69,982 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of C$15.15, for a total value of C$1,060,227.30. In the last ninety days, insiders have sold 204,763 shares of company stock worth $3,478,670. 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.