TransAlta (TSE:TA) Reaches New 12-Month High - Still a Buy?

Key Points

• TransAlta's shares reached a new 52-week high of C$21.43, closing at C$21.29 with significant trading volume of 192,827 shares.
• Multiple research firms have upgraded their ratings and price targets for TransAlta, with a consensus "Buy" rating and an average price target of C$19.22.
• The company operates a diverse portfolio of power generation assets across Canada, the United States, and Australia, with a market capitalization of C$6.35 billion.

Shares of TransAlta Co. (TSE:TA - Get Free Report) NYSE: TAC hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$21.43 and last traded at C$21.29, with a volume of 192827 shares changing hands. The stock had previously closed at C$20.93.

Analyst Ratings Changes

TA has been the topic of several recent research reports. TD Securities boosted their price target on TransAlta from C$19.00 to C$20.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. CIBC boosted their price target on TransAlta from C$18.50 to C$20.00 in a research report on Thursday, July 10th. National Bankshares boosted their price target on TransAlta from C$16.00 to C$17.00 and gave the company an "outperform" rating in a research report on Tuesday, August 5th. Scotiabank upgraded TransAlta from a "hold" rating to a "strong-buy" rating and boosted their price target for the company from C$16.00 to C$20.00 in a research report on Friday, July 18th. Finally, Jefferies Financial Group upgraded TransAlta from a "hold" rating to a "buy" rating and boosted their price target for the company from C$12.00 to C$20.00 in a research report on Thursday, June 12th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of C$19.22.

TransAlta Price Performance

The company has a debt-to-equity ratio of 229.66, a quick ratio of 0.62 and a current ratio of 0.74. The company has a 50-day simple moving average of C$17.67 and a 200-day simple moving average of C$15.12. The company has a market cap of C$6.35 billion, a price-to-earnings ratio of -39.69, a PEG ratio of -0.07 and a beta of 0.73.

TransAlta Company Profile

TransAlta is an independent power producer based in Alberta, Canada. The company operates a diverse and growing fleet of electrical power generation assets in Canada, the United States, and Australia consisting of hydro, wind, solar, battery storage, gas and energy transition facilities. The majority of the company's revenues are derived from the sale of generation capacity, electricity, thermal energy, environmental attributes, and byproducts of power generation.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.