TransAlta Co. (TSE:TA) Receives C$18.00 Consensus Price Target from Brokerages

Shares of TransAlta Co. (TSE:TA) (NYSE:TAC) have earned an average rating of “Moderate Buy” from the eight analysts that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is C$18.00.

Several equities research analysts recently commented on TA shares. Royal Bank of Canada decreased their price objective on shares of TransAlta from C$23.00 to C$20.00 and set an “outperform” rating on the stock in a research report on Thursday, May 8th. Scotiabank cut their target price on shares of TransAlta from C$17.00 to C$16.00 and set a “sector perform” rating for the company in a research note on Thursday, May 8th. Desjardins cut their target price on shares of TransAlta from C$16.00 to C$14.00 and set a “hold” rating for the company in a research note on Tuesday, May 6th. CIBC boosted their target price on shares of TransAlta from C$18.50 to C$19.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Finally, TD Securities boosted their target price on shares of TransAlta from C$18.00 to C$19.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th.

Insider Activity

In related news, Senior Officer Joel E. Hunter acquired 45,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was bought at an average price of C$14.99 per share, with a total value of C$674,752.50. Corporate insiders own 0.21% of the company’s stock.

TransAlta Price Performance

TransAlta stock opened at C$12.56 on Monday. TransAlta has a 52 week low of C$9.30 and a 52 week high of C$21.22. The company has a quick ratio of 0.62, a current ratio of 0.74 and a debt-to-equity ratio of 229.66. The firm’s 50-day simple moving average is C$12.59 and its 200 day simple moving average is C$15.31. The firm has a market capitalization of C$3.77 billion, a PE ratio of 17.90, a P/E/G ratio of -0.07 and a beta of 0.93.

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.