National Bank Financial Upgrades TransAlta (TSE:TA) to “Outperform”

TransAlta (TSE:TA) (NYSE:TAC) was upgraded by investment analysts at National Bank Financial from a “hold” rating to an “outperform” rating in a note issued to investors on Tuesday, MarketBeat Ratings reports. The firm currently has a C$22.00 price objective on the stock. National Bank Financial’s price target would indicate a potential upside of 21.82% from the company’s current price.

TA has been the subject of several other reports. Desjardins lowered their price objective on 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. TD Securities boosted their target price on TransAlta from C$26.00 to C$27.00 and gave the stock a “buy” rating in a research note on Wednesday, December 10th. Canadian Imperial Bank of Commerce upped their price target on TransAlta from C$25.00 to C$26.00 in a report on Wednesday, December 17th. ATB Cormark Capital Markets increased their price target on shares of TransAlta from C$27.00 to C$28.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Jefferies Financial Group cut their price objective on shares of TransAlta from C$27.00 to C$22.00 in a report on Wednesday, January 21st. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$24.25.

TransAlta Price Performance

TransAlta stock opened at C$18.06 on Tuesday. The company has a current ratio of 0.73, a quick ratio of 0.62 and a debt-to-equity ratio of 320.51. The company has a fifty day simple moving average of C$17.74 and a 200-day simple moving average of C$19.15. The stock has a market cap of C$5.36 billion, a P/E ratio of -28.22, a price-to-earnings-growth ratio of -0.07 and a beta of 0.49. TransAlta has a 12-month low of C$11.16 and a 12-month high of C$25.03.

TransAlta (TSE:TA) (NYSE:TAC) last posted its earnings results on Friday, February 27th. The company reported C($0.06) EPS for the quarter. TransAlta had a negative net margin of 5.74% and a negative return on equity of 8.84%. The business had revenue of C$712.00 million during the quarter.

Insider Buying and Selling at TransAlta

In related news, insider Jane Nyla Fedoretz sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of C$17.45, for a total transaction of C$174,500.00. Following the transaction, the insider owned 103,953 shares of the company’s stock, valued at C$1,813,979.85. This trade represents a 8.78% decrease in their ownership of the stock. Insiders have sold a total of 22,500 shares of company stock worth $394,550 in the last three months. 0.21% of the stock is currently owned by corporate insiders.

Key Stories Impacting TransAlta

Here are the key news stories impacting TransAlta this week:

• Positive Sentiment: Wolfe Island wind turbines are being returned to service after an incident that removed a blade from one unit; restoration of capacity reduces outage-related lost generation and supports near-term revenue and cash flow recovery. Wolfe Island wind turbines coming back online after blade falls off
• Positive Sentiment: Two broker actions upgraded TransAlta and raised price targets: ATB Cormark lifted its target to C$28 and kept an “outperform” stance, and National Bank Financial upgraded to “outperform” with a C$22 target — both signals can attract buyers and provide headline support for the share price. Analyst rating updates (BayStreet.CA) Zacks / National Bank coverage
• Negative Sentiment: Insider selling: director/insider Jane Nyla Fedoretz disclosed two sales on March 24 totaling 17,500 shares at average prices ~C$17.45–C$17.70, reducing her stake materially. While insider sales can be for many reasons, they can be perceived negatively by investors and add selling pressure. Insider transaction filings (MarketBeat)
• Negative Sentiment: Technical caution: coverage noting TA has crossed below its 200‑day moving average, a commonly watched signal that can trigger additional technical selling or reduce interest from momentum-focused funds. TransAlta Shares Cross Below 200 Day Moving Average (AmericanBankingNews)

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.