TransAlta Co. (TSE:TA) Receives Consensus Rating of “Buy” from Brokerages

Shares of TransAlta Co. (TSE:TA) (NYSE:TAC) have been assigned a consensus rating of “Buy” from the ten brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is C$24.95.

A number of brokerages recently weighed in on TA. ATB Cormark Capital Markets set a C$28.00 price objective on shares of TransAlta and gave the company an “outperform” rating in a research note on Wednesday, June 10th. TD set a C$26.00 price target on shares of TransAlta and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Royal Bank Of Canada set a C$24.00 price target on shares of TransAlta and gave the stock an “outperform” rating in a research report on Wednesday, June 10th. Desjardins boosted their price target on shares of TransAlta from C$18.00 to C$18.50 and gave the stock a “hold” rating in a research report on Wednesday, June 10th. Finally, National Bank Financial boosted their price target on shares of TransAlta from C$22.00 to C$24.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st.

Insiders Place Their Bets

In other TransAlta news, insider Jane Nyla Fedoretz sold 10,000 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of C$18.25, for a total value of C$182,500.00. Following the sale, the insider directly owned 49,906 shares in the company, valued at approximately C$910,784.50. The trade was a 16.69% decrease in their ownership of the stock. Also, insider Christopher Douglas Fralick sold 36,453 shares of the business’s stock in a transaction dated Thursday, March 26th. The stock was sold at an average price of C$17.90, for a total transaction of C$652,508.70. Following the completion of the sale, the insider owned 46,939 shares in the company, valued at approximately C$840,208.10. This trade represents a 43.71% decrease in their ownership of the stock. Over the last three months, insiders have acquired 30,450 shares of company stock worth $557,548 and have sold 73,453 shares worth $1,312,859. 0.21% of the stock is owned by company insiders.

TransAlta Price Performance

Shares of TSE TA opened at C$19.64 on Tuesday. TransAlta has a fifty-two week low of C$14.08 and a fifty-two week high of C$25.03. The firm’s 50-day simple moving average is C$18.17 and its 200 day simple moving average is C$18.02. The company has a quick ratio of 0.62, a current ratio of 0.76 and a debt-to-equity ratio of 317.20. The stock has a market cap of C$6.21 billion, a P/E ratio of -26.19, a P/E/G ratio of -0.07 and a beta of 0.69.

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

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.