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

TransAlta Co. (TSE:TA) (NYSE:TAC) has received an average rating of “Moderate Buy” from the six ratings firms that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is C$18.36.

A number of brokerages have recently issued reports on TA. 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. Cibc World Mkts raised TransAlta from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 18th. Scotiabank lowered TransAlta from an “outperform” rating to a “sector perform” rating and increased their price objective for the company from C$19.00 to C$21.00 in a research note on Thursday, January 30th. BMO Capital Markets lifted their target price on shares of TransAlta from C$17.00 to C$22.00 in a research note on Monday, December 16th. Finally, CIBC raised shares of TransAlta from a “neutral” rating to an “outperform” rating and dropped their price target for the company from C$23.00 to C$19.50 in a research report on Tuesday, February 18th.

Insider Activity at TransAlta

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

TransAlta Trading Down 10.3 %

Shares of TA opened at C$11.61 on Friday. The company has a debt-to-equity ratio of 229.66, a quick ratio of 0.62 and a current ratio of 0.74. TransAlta has a fifty-two week low of C$8.22 and a fifty-two week high of C$21.22. The firm has a 50 day moving average price of C$14.52 and a 200-day moving average price of C$15.73. The firm has a market cap of C$3.49 billion, a price-to-earnings ratio of 16.55, a PEG 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.