TransAlta (TSE:TA) Price Target Cut to C$16.00

TransAlta (TSE:TA - Get Free Report) NYSE: TAC had its price target dropped by CIBC from C$18.50 to C$16.00 in a research note issued on Friday, BayStreet.CA reports. The firm presently has an "outperform" rating on the stock. CIBC's price objective would indicate a potential upside of 79.98% from the stock's previous close.

A number of other brokerages also recently weighed in on TA. National Bankshares lowered their price target on TransAlta from C$14.00 to C$13.00 and set an "outperform" rating on the stock in a report on Tuesday, January 30th. BMO Capital Markets lowered their target price on TransAlta from C$17.00 to C$16.00 and set an "outperform" rating on the stock in a research note on Monday, February 26th. TD Securities lowered their target price on TransAlta from C$15.00 to C$14.00 and set a "buy" rating on the stock in a research note on Monday, February 26th. Finally, Royal Bank of Canada lowered their target price on TransAlta from C$15.00 to C$14.00 and set an "outperform" rating on the stock in a research note on Monday, February 26th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, TransAlta has an average rating of "Buy" and an average target price of C$15.55.

TransAlta Stock Performance

TransAlta stock traded up C$0.04 during mid-day trading on Friday, hitting C$8.89. 1,161,407 shares of the company's stock traded hands, compared to its average volume of 953,001. The firm has a 50 day moving average price of C$8.95 and a 200 day moving average price of C$10.12. The company has a quick ratio of 0.62, a current ratio of 0.91 and a debt-to-equity ratio of 253.18. The company has a market cap of C$2.73 billion, a PE ratio of 3.82, a price-to-earnings-growth ratio of -0.07 and a beta of 0.89. TransAlta has a one year low of C$8.22 and a one year high of C$13.97.

TransAlta (TSE:TA - Get Free Report) NYSE: TAC last posted its quarterly earnings data on Friday, February 23rd. The company reported C($0.27) EPS for the quarter, missing analysts' consensus estimates of C$0.18 by C($0.45). TransAlta had a return on equity of 43.58% and a net margin of 20.71%. The firm had revenue of C$624.00 million during the quarter. On average, equities analysts forecast that TransAlta will post 0.4700714 EPS for the current year.

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.