TransAlta (TSE:TA) Price Target Raised to C$27.00

TransAlta (TSE:TA) (NYSE:TAC) had its target price lifted by TD Securities from C$26.00 to C$27.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. TD Securities’ price target suggests a potential upside of 35.41% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the company. Desjardins boosted their price objective on TransAlta from C$16.50 to C$21.00 and gave the stock a “hold” rating in a report on Wednesday, October 22nd. ATB Capital upped their price objective on TransAlta from C$26.00 to C$27.00 and gave the company an “outperform” rating in a report on Wednesday. Royal Bank Of Canada lifted their target price on TransAlta from C$20.00 to C$24.00 in a report on Monday, November 10th. CIBC boosted their price objective on shares of TransAlta from C$20.00 to C$26.00 and gave the company an “outperform” rating in a report on Monday, October 20th. Finally, National Bankshares raised their target price on shares of TransAlta from C$18.00 to C$22.00 and gave the stock a “sector perform” rating in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$24.78.

TransAlta Stock Performance

TransAlta stock traded down C$0.31 during midday trading on Wednesday, reaching C$19.94. 402,189 shares of the company’s stock were exchanged, compared to its average volume of 1,724,435. The stock’s 50-day simple moving average is C$21.61 and its 200 day simple moving average is C$18.11. The firm has a market cap of C$5.92 billion, a price-to-earnings ratio of -31.16, a P/E/G ratio of -0.07 and a beta of 0.67. 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 52 week low of C$11.16 and a 52 week high of C$25.03.

TransAlta (TSE:TA) (NYSE:TAC) last released its quarterly earnings data on Thursday, November 6th. The company reported C($0.02) EPS for the quarter. The company had revenue of C$674.00 million for the quarter. TransAlta had a return on equity of 12.03% and a net margin of 7.49%.

About TransAlta

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.