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

TransAlta (TSE:TA) (NYSE:TAC) had its target price upped by equities research analysts at Desjardins from C$15.50 to C$16.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has a “hold” rating on the stock. Desjardins’ price objective would suggest a potential downside of 22.93% from the stock’s previous close.

A number of other research firms have also weighed in on TA. TD Securities upped their price objective on TransAlta from C$16.00 to C$18.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. National Bankshares upped their price objective on TransAlta from C$14.00 to C$15.00 and gave the stock an “outperform” rating in a research note on Friday, August 23rd. Scotiabank raised TransAlta to a “strong-buy” rating in a research note on Thursday, December 5th. Royal Bank of Canada increased their price target on TransAlta from C$14.00 to C$16.00 in a research note on Wednesday, November 6th. Finally, BMO Capital Markets increased their price target on TransAlta from C$17.00 to C$22.00 in a research note on Monday. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, TransAlta currently has a consensus rating of “Buy” and an average price target of C$17.08.

TransAlta Stock Performance

TransAlta stock traded up C$0.21 during mid-day trading on Wednesday, reaching C$20.76. 1,225,063 shares of the stock traded hands, compared to its average volume of 1,122,066. The stock has a market capitalization of C$6.19 billion, a PE ratio of 10.93, a price-to-earnings-growth ratio of -0.07 and a beta of 0.93. 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 12-month low of C$8.22 and a 12-month high of C$20.98. The business’s 50-day moving average is C$15.36 and its 200-day moving average is C$12.50.

Insider Activity

In related news, Senior Officer Jane Nyla Fedoretz sold 10,000 shares of TransAlta stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of C$19.41, for a total value of C$194,100.00. Also, Director John Harry Kousinioris sold 45,000 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of C$17.67, for a total transaction of C$795,150.00. Insiders have sold 189,584 shares of company stock worth $3,027,809 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.