TransAlta (TSE:TA) Downgraded by Desjardins to “Hold”

TransAlta (TSE:TA) (NYSE:TAC) was downgraded by Desjardins from a “moderate buy” rating to a “hold” rating in a report released on Tuesday, Zacks.com reports.

Other equities research analysts have also issued research reports about the company. CIBC dropped their price objective on TransAlta from C$16.50 to C$15.50 and set an “outperform” rating for the company in a research note on Monday, July 22nd. BMO Capital Markets raised their price target on TransAlta from C$16.00 to C$17.00 in a research report on Thursday, September 5th. Royal Bank of Canada raised their price target on TransAlta from C$14.00 to C$16.00 in a research report on Wednesday. National Bankshares raised their price target on TransAlta from C$14.00 to C$15.00 and gave the company an “outperform” rating in a research report on Friday, August 23rd. Finally, TD Securities raised their price target on TransAlta from C$16.00 to C$18.00 and gave the company a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of C$16.17.

TransAlta Price Performance

TSE:TA opened at C$14.53 on Tuesday. The firm has a market capitalization of C$4.33 billion, a price-to-earnings ratio of 7.65, 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$15.37. The stock has a fifty day moving average of C$13.45 and a 200 day moving average of C$11.14. The company has a debt-to-equity ratio of 219.87, a quick ratio of 0.62 and a current ratio of 0.84.

Insider Transactions at TransAlta

In other news, Senior Officer Jane Nyla Fedoretz sold 10,000 shares of TransAlta stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of C$11.45, for a total value of C$114,500.00. In related news, Senior Officer Kerry Lynn O’reilly sold 48,833 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of C$10.99, for a total value of C$536,674.67. Also, Senior Officer Jane Nyla Fedoretz sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of C$11.45, for a total value of C$114,500.00. Over the last quarter, insiders have sold 78,839 shares of company stock worth $929,648. 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.