TransAlta Co. (TSE:TA) Receives C$18.36 Average Target Price from Brokerages

Shares of TransAlta Co. (TSE:TA) (NYSE:TAC) have been given an average recommendation of “Moderate Buy” by the six ratings firms that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is C$18.36.

TA has been the subject of a number of analyst reports. Scotiabank cut shares of TransAlta from an “outperform” rating to a “sector perform” rating and lifted their price objective for the company from C$19.00 to C$21.00 in a report on Thursday, January 30th. CIBC upgraded TransAlta from a “neutral” rating to an “outperform” rating and cut their price target for the company from C$23.00 to C$19.50 in a research note on Tuesday, February 18th. Cibc World Mkts upgraded TransAlta from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 18th. Desjardins upped their price target on TransAlta from C$15.50 to C$16.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. Finally, TD Securities raised their price objective on TransAlta from C$18.00 to C$19.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th.

Insiders Place Their Bets

In other news, Senior Officer Joel E. Hunter purchased 45,000 shares of TransAlta stock in a transaction dated Thursday, February 27th. The stock was purchased at an average cost of C$14.99 per share, for a total transaction of C$674,752.50. 0.21% of the stock is owned by corporate insiders.

TransAlta Price Performance

Shares of TSE TA opened at C$11.61 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.62 and a debt-to-equity ratio of 229.66. The firm’s 50-day moving average price is C$14.52 and its 200-day moving average price is C$15.73. The firm has a market capitalization of C$3.49 billion, a P/E ratio of 16.55, a P/E/G ratio of -0.07 and a beta of 0.93. TransAlta has a 1-year low of C$8.22 and a 1-year high of C$21.22.

TransAlta Company Profile

TransAlta is an independent power producer based in Alberta, Canada. The company operates a diverse and growing fleet of electrical power generation assets in Canada, the United States, and Australia consisting of hydro, wind, solar, battery storage, gas and energy transition facilities. The majority of the company’s revenues are derived from the sale of generation capacity, electricity, thermal energy, environmental attributes, and byproducts of power generation.