TransAlta (TA) PT Lowered to C$8.00

TransAlta (TSE:TA) (NYSE:TAC) had its target price cut by equities researchers at National Bank Financial from C$9.50 to C$8.00 in a research report issued to clients and investors on Monday. The firm currently has a “sector perform” rating on the stock. National Bank Financial’s price objective would suggest a potential upside of 16.79% from the company’s current price.

Several other research firms have also recently issued reports on TA. Royal Bank of Canada raised their target price on TransAlta from C$8.00 to C$9.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 7th. Scotiabank raised their target price on TransAlta from C$8.00 to C$9.00 and gave the stock a “sector perform” rating in a research note on Thursday, December 7th. CIBC lifted their price objective on TransAlta from C$8.25 to C$8.50 in a research report on Thursday, December 7th. Finally, CSFB lifted their price objective on TransAlta from C$7.00 to C$8.00 and gave the company an “underperform” rating in a research report on Thursday, December 7th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. TransAlta has an average rating of “Hold” and an average target price of C$8.36.

TransAlta (TSE:TA) traded down C$0.04 during midday trading on Monday, hitting C$6.85. The company had a trading volume of 334,486 shares, compared to its average volume of 399,547. The company has a market capitalization of $1,980.00, a PE ratio of 114.33 and a beta of 0.43. TransAlta has a 12 month low of C$6.81 and a 12 month high of C$8.50.

TransAlta (TSE:TA) (NYSE:TAC) last posted its earnings results on Tuesday, October 31st. The company reported C($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.03 by C($0.12). TransAlta had a negative return on equity of 4.34% and a negative net margin of 6.46%.

In other TransAlta news, insider David Fuller bought 9,832 shares of the stock in a transaction dated Thursday, November 30th. The stock was purchased at an average cost of C$47.98 per share, for a total transaction of C$471,739.36. Also, insider John Harry Kousinioris bought 18,800 shares of the stock in a transaction dated Tuesday, December 19th. The shares were acquired at an average price of C$7.49 per share, with a total value of C$140,812.00. Over the last ninety days, insiders have acquired 38,932 shares of company stock worth $692,788.

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TransAlta Company Profile

TransAlta Corporation (TransAlta) is a non-regulated electricity generation and energy marketing company with an aggregate net ownership interest of approximately 8,720 megawatts of generating capacity. The Company is engaged in the production and sale of electric energy. It focuses on generating and marketing electricity in Canada, the United States and Western Australia through its diversified portfolio of facilities fuelled by coal, natural gas, diesel, hydro, wind and solar.

Analyst Recommendations for TransAlta (TSE:TA)

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