TransAlta (TSE:TA) Given New C$26.00 Price Target at TD
by Scott Moore · The Cerbat GemTransAlta (TSE:TA – Get Free Report) (NYSE:TAC) had its target price cut by analysts at TD from C$27.00 to C$26.00 in a report released on Thursday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. TD’s target price points to a potential upside of 49.60% from the company’s previous close.
Several other analysts have also recently weighed in on TA. Jefferies Financial Group dropped their price target on TransAlta from C$27.00 to C$22.00 in a research report on Wednesday, January 21st. Desjardins dropped their target price on shares of TransAlta from C$19.00 to C$18.00 and set a “hold” rating for the company in a research report on Tuesday, February 10th. ATB Cormark Capital Markets boosted their price target on shares of TransAlta from C$27.00 to C$28.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 24th. Finally, National Bank Financial upgraded shares of TransAlta from a “hold” rating to an “outperform” rating and set a C$22.00 price objective on the stock in a research report on Tuesday, March 24th. Eight research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, TransAlta has an average rating of “Moderate Buy” and an average price target of C$24.44.
View Our Latest Research Report on TA
TransAlta Price Performance
TSE:TA traded down C$0.07 during trading hours on Thursday, hitting C$17.38. The stock had a trading volume of 627,496 shares, compared to its average volume of 1,323,278. The company has a 50 day simple moving average of C$17.76 and a two-hundred day simple moving average of C$18.81. The company has a debt-to-equity ratio of 320.51, a current ratio of 0.73 and a quick ratio of 0.62. TransAlta has a one year low of C$11.56 and a one year high of C$25.03. The firm has a market capitalization of C$5.16 billion, a price-to-earnings ratio of -27.16, a P/E/G ratio of -0.07 and a beta of 0.54.
TransAlta (TSE:TA – Get Free Report) (NYSE:TAC) last issued its quarterly earnings data on Wednesday, May 6th. The company reported C$0.06 earnings per share (EPS) for the quarter. The company had revenue of C$560.00 million for the quarter. TransAlta had a negative return on equity of 8.84% and a negative net margin of 5.74%.
Insider Activity
In related news, insider Christopher Douglas Fralick sold 36,453 shares of TransAlta stock in a transaction on Thursday, March 26th. The shares were sold at an average price of C$17.90, for a total value of C$652,508.70. Following the transaction, the insider directly owned 46,939 shares of the company’s stock, valued at C$840,208.10. The trade was a 43.71% decrease in their ownership of the stock. Also, insider Jane Nyla Fedoretz sold 7,000 shares of the stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of C$18.15, for a total transaction of C$127,050.00. Following the sale, the insider directly owned 84,453 shares of the company’s stock, valued at C$1,532,821.95. The trade was a 7.65% decrease in their position. Insiders have sold a total of 70,953 shares of company stock valued at $1,262,409 over the last 90 days. 0.21% of the stock is currently owned by company insiders.
About TransAlta
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.