TransAlta (TSE:TA) PT Set at C$28.00 by ATB Cormark Capital Markets

TransAlta (TSE:TA) (NYSE:TAC) has been assigned a C$28.00 target price by investment analysts at ATB Cormark Capital Markets in a research note issued on Wednesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ target price indicates a potential upside of 60.18% from the company’s previous close.

Several other equities research analysts also recently commented on the company. TD reduced their target price on TransAlta from C$27.00 to C$26.00 and set a “buy” rating for the company in a report on Thursday, May 7th. National Bank Financial upped their target price on TransAlta from C$22.00 to C$24.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Finally, Desjardins reduced their target price on TransAlta from C$19.00 to C$18.00 and set a “hold” rating for the company in a report on Tuesday, February 10th. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of C$24.95.

TransAlta Trading Up 0.5%

Shares of TSE TA traded up C$0.08 during mid-day trading on Wednesday, hitting C$17.48. 1,132,181 shares of the company traded hands, compared to its average volume of 1,452,348. TransAlta has a 1 year low of C$14.07 and a 1 year high of C$25.03. The stock has a market capitalization of C$5.21 billion, a price-to-earnings ratio of -23.31, a PEG ratio of -0.07 and a beta of 0.69. The company has a quick ratio of 0.62, a current ratio of 0.76 and a debt-to-equity ratio of 317.20. The business has a 50 day moving average of C$18.12 and a two-hundred day moving average of C$18.07.

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

Insider Buying and Selling

In related news, insider Jane Nyla Fedoretz sold 10,000 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of C$18.25, for a total value of C$182,500.00. Following the completion of the sale, the insider directly owned 49,906 shares of the company’s stock, valued at approximately C$910,784.50. This represents a 16.69% decrease in their position. Also, insider Christopher Douglas Fralick sold 36,453 shares of the stock in a transaction dated Thursday, March 26th. The stock was sold at an average price of C$17.90, for a total value of C$652,508.70. Following the completion of the sale, the insider directly owned 46,939 shares of the company’s stock, valued at approximately C$840,208.10. This represents a 43.71% decrease in their ownership of the stock. In the last ninety days, insiders acquired 20,450 shares of company stock valued at $361,748 and sold 95,953 shares valued at $1,707,409. Company insiders own 0.21% of the company’s stock.

TransAlta Company Profile

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.