TransAlta (TSE:TA) Reaches New 12-Month High – Should You Buy?

TransAlta Co. (TSE:TA) (NYSE:TAC) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as C$24.55 and last traded at C$24.26, with a volume of 64579 shares trading hands. The stock had previously closed at C$24.11.

Analysts Set New Price Targets

A number of research analysts have weighed in on TA shares. TD Securities lifted their price target on shares of TransAlta from C$19.00 to C$20.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Scotiabank boosted their price objective on shares of TransAlta from C$23.00 to C$27.00 and gave the company an “outperform” rating in a research report on Monday, October 20th. Desjardins upped their target price on shares of TransAlta from C$16.50 to C$21.00 and gave the stock a “hold” rating in a research note on Wednesday. ATB Capital increased their target price on TransAlta from C$18.00 to C$20.00 and gave the stock an “outperform” rating in a report on Tuesday, August 5th. Finally, Jefferies Financial Group boosted their price target on TransAlta from C$20.00 to C$27.00 and gave the company a “buy” rating in a report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of C$22.22.

TransAlta Price Performance

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 has a market capitalization of C$7.16 billion, a price-to-earnings ratio of -44.74, a P/E/G ratio of -0.07 and a beta of 0.73. The company’s 50 day moving average is C$19.30 and its 200-day moving average is C$16.04.

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.