Insider Buying: TransAlta (TSE:TA) Insider Purchases C$172,400.00 in Stock

TransAlta Co. (TSE:TA) (NYSE:TAC) insider Michael Politeski acquired 10,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was purchased at an average price of C$17.24 per share, for a total transaction of C$172,400.00. Following the acquisition, the insider directly owned 55,000 shares in the company, valued at C$948,200. This represents a 22.22% increase in their ownership of the stock.

TransAlta Stock Performance

Shares of TA stock opened at C$17.63 on Friday. TransAlta Co. has a 12 month low of C$12.12 and a 12 month high of C$25.03. The company has a debt-to-equity ratio of 317.20, a current ratio of 0.76 and a quick ratio of 0.62. The firm has a market capitalization of C$5.25 billion, a P/E ratio of -23.51, a P/E/G ratio of -0.07 and a beta of 0.54. The company’s fifty day moving average price is C$17.67 and its two-hundred day moving average price is C$18.55.

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TA shares. TD cut their price objective on shares of TransAlta from C$27.00 to C$26.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Jefferies Financial Group reduced their price objective on shares of TransAlta from C$27.00 to C$22.00 in a research note on Wednesday, January 21st. Desjardins reduced their price objective on shares of TransAlta from C$19.00 to C$18.00 and set a “hold” rating on the stock in a research note on Tuesday, February 10th. ATB Cormark Capital Markets increased their price objective 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, March 24th. Finally, National Bank Financial upgraded shares of TransAlta from a “hold” rating to an “outperform” rating and set a C$22.00 target price on the stock in a research note on Tuesday, March 24th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of C$24.44.

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.