Canadian Imperial Bank of Commerce Cuts TransAlta (TSE:TA) Price Target to C$24.50

TransAlta (TSE:TA) (NYSE:TAC) had its target price trimmed by Canadian Imperial Bank of Commerce from C$26.00 to C$24.50 in a research note published on Tuesday morning,BayStreet reports.

TA has been the subject of a number of other research reports. Royal Bank Of Canada set a C$24.00 target price on shares of TransAlta and gave the stock an “outperform” rating in a research report on Wednesday, June 10th. Scotia set a C$27.00 price target on shares of TransAlta and gave the company a “sector outperform” rating in a report on Wednesday, June 10th. Scotiabank upgraded shares of TransAlta to a “strong-buy” rating in a research note on Wednesday, June 10th. ATB Cormark Capital Markets set a C$28.00 price objective on shares of TransAlta and gave the company an “outperform” rating in a report on Wednesday, June 10th. Finally, TD set a C$26.00 price objective on shares of TransAlta and gave the company a “buy” rating in a report on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of C$24.85.

TransAlta Stock Performance

TSE:TA opened at C$16.64 on Tuesday. The stock has a 50-day moving average price of C$17.43 and a 200 day moving average price of C$18.03. The stock has a market capitalization of C$5.26 billion, a P/E ratio of -53.68, a P/E/G ratio of -0.07 and a beta of 0.69. TransAlta has a 12-month low of C$15.62 and a 12-month high of C$25.03. The company has a current ratio of 0.84, a quick ratio of 0.61 and a debt-to-equity ratio of 238.01.

TransAlta (TSE:TA) (NYSE:TAC) last posted its quarterly earnings results on Friday, July 31st. The company reported C$0.18 earnings per share for the quarter. TransAlta had a negative return on equity of 1.50% and a negative net margin of 1.02%.The business had revenue of C$507.00 million during the quarter.

Insider Transactions at TransAlta

In other TransAlta news, insider Michael Politeski acquired 5,000 shares of the stock in a transaction on Tuesday, September 15th. The stock was acquired at an average price of C$16.02 per share, for a total transaction of C$80,100.00. Following the completion of the transaction, the insider directly owned 90,000 shares of the company’s stock, valued at C$1,441,800. This trade represents a 5.88% increase in their ownership of the stock. 0.21% of the stock is currently owned by insiders.

TransAlta Company Profile

TransAlta owns, operates and develops a diverse fleet of electrical power generation assets in Canada, the United States and Australia with a focus on long-term shareholder value. TransAlta provides municipalities, medium and large industries, businesses and utility customers with affordable, energy efficient and reliable power. Today, TransAlta is one of Canada’s largest producers of wind power and Alberta’s largest producer of thermal generation and hydro-electric power. For over 114 years, TransAlta has been a responsible operator and a proud member of the communities where we operate and where our employees work and live.