TransAlta (TSE:TA) Given a C$26.00 Price Target by TD Analysts

by · The Markets Daily

TransAlta (TSE:TA – Get Free Report) (NYSE:TAC) has been given a C$26.00 price target by equities research analysts at TD in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD’s price objective suggests a potential upside of 48.74% from the stock’s previous close.

A number of other brokerages have also weighed in on TA. ATB Cormark Capital Markets set a C$28.00 target price on shares of TransAlta and gave the company an “outperform” rating in a research note on Wednesday. Royal Bank Of Canada set a C$24.00 target price on shares of TransAlta and gave the company an “outperform” rating in a research note on Wednesday. National Bank Financial boosted their target price on shares of TransAlta from C$22.00 to C$24.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. Desjardins boosted their target price on shares of TransAlta from C$18.00 to C$18.50 and gave the company a “hold” rating in a research note on Wednesday. Finally, Scotia set a C$27.00 target price on shares of TransAlta and gave the company a “sector outperform” rating in a research note on Wednesday. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$24.95.

View Our Latest Research Report on TA

TransAlta Stock Up 0.5%

TA stock traded up C$0.08 during midday trading on Wednesday, hitting C$17.48. The company’s stock had a trading volume of 1,132,181 shares, compared to its average volume of 1,452,348. The company has a market cap of C$5.21 billion, a PE ratio of -23.31, a P/E/G ratio of -0.07 and a beta of 0.69. TransAlta has a 12 month low of C$14.07 and a 12 month high of C$25.03. The company has a current ratio of 0.76, a quick ratio of 0.62 and a debt-to-equity ratio of 317.20. The firm’s 50-day moving average is C$18.12 and its 200-day moving average is C$18.07.

TransAlta (TSE:TA – Get Free Report) (NYSE:TAC) last announced its earnings results on Wednesday, May 6th. The company reported C$0.06 earnings per share for the quarter. The business had revenue of C$560.00 million during the quarter. TransAlta had a negative net margin of 7.73% and a negative return on equity of 11.56%.

Insider Transactions at TransAlta

In other news, insider Jane Nyla Fedoretz sold 10,000 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of C$18.25, for a total value of C$182,500.00. Following the completion of the sale, the insider directly owned 49,906 shares in the company, valued at C$910,784.50. This represents a 16.69% decrease in their position. Also, insider Michael Politeski acquired 10,000 shares of TransAlta stock in a transaction dated Friday, June 5th. The stock was bought at an average price of C$18.15 per share, with a total value of C$181,500.00. Following the completion of the purchase, the insider directly owned 65,000 shares in the company, valued at C$1,179,750. This represents a 18.18% increase in their ownership of the stock. In the last three months, insiders purchased 20,450 shares of company stock worth $361,748 and sold 95,953 shares worth $1,707,409. 0.21% of the stock is currently owned by company insiders.

About TransAlta

(Get Free Report)

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.

Further Reading