Desjardins Issues Positive Forecast for TransAlta (TSE:TA) Stock Price

TransAlta (TSE:TA) (NYSE:TAC) had its price target upped by equities research analysts at Desjardins from C$15.50 to C$16.00 in a report issued on Wednesday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. Desjardins’ price objective points to a potential downside of 20.08% from the company’s previous close.

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

TransAlta Stock Performance

Shares of TransAlta stock opened at C$20.02 on Wednesday. TransAlta has a 12 month low of C$8.22 and a 12 month high of C$20.98. The company has a quick ratio of 0.62, a current ratio of 0.84 and a debt-to-equity ratio of 219.87. The stock has a market cap of C$5.97 billion, a PE ratio of 10.54, a price-to-earnings-growth ratio of -0.07 and a beta of 0.93. The business has a fifty day simple moving average of C$15.59 and a 200-day simple moving average of C$12.60.

Insiders Place Their Bets

In other news, Director John Harry Kousinioris sold 35,179 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of C$20.73, for a total transaction of C$729,260.67. Also, Senior Officer Jane Nyla Fedoretz sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of C$13.92, for a total value of C$278,400.00. Insiders sold 224,763 shares of company stock valued at $3,757,070 over the last ninety days. Corporate insiders own 0.21% of the company’s stock.

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.