TransAlta Co. (TSE:TA) Stock Has Consensus Target Price of C$24.85

Shares of TransAlta Co. (TSE:TA) (NYSE:TAC) have earned an average rating of “Buy” from the ten ratings firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is C$24.85.

A number of brokerages have weighed in on TA. Canadian Imperial Bank of Commerce decreased their target price on TransAlta from C$26.00 to C$24.50 in a research report on Tuesday, September 22nd. TD set a C$26.00 price target on shares of TransAlta and gave the company a “buy” rating in a report on Wednesday, June 10th. Desjardins lifted their price target on shares of TransAlta from C$18.50 to C$19.00 and gave the stock a “hold” rating in a research note on Friday, July 3rd. Royal Bank Of Canada set a C$24.00 price objective on shares of TransAlta and gave the company an “outperform” rating in a report on Wednesday, June 10th. Finally, Scotia set a C$27.00 price objective on shares of TransAlta and gave the company a “sector outperform” rating in a research report on Wednesday, June 10th.

TransAlta Stock Up 1.1%

TransAlta stock opened at C$17.78 on Thursday. TransAlta has a 12 month low of C$15.62 and a 12 month high of C$25.03. The stock has a fifty day simple moving average of C$17.11 and a two-hundred day simple moving average of C$18.02. The company has a current ratio of 0.84, a quick ratio of 0.61 and a debt-to-equity ratio of 238.01. The firm has a market cap of C$5.62 billion, a price-to-earnings ratio of -57.35, a PEG ratio of -0.07 and a beta of 0.54.

TransAlta (TSE:TA) (NYSE:TAC) last announced its quarterly earnings results on Friday, July 31st. The company reported C$0.18 earnings per share (EPS) for the quarter. TransAlta had a negative return on equity of 1.50% and a negative net margin of 1.02%.The firm had revenue of C$507.00 million for the quarter.

Insider Buying and Selling

In related news, insider Michael Politeski bought 5,000 shares of the business’s stock in a transaction on Tuesday, September 15th. The stock was acquired at an average price of C$16.02 per share, with a total value of C$80,100.00. Following the transaction, the insider owned 90,000 shares in the company, valued at approximately C$1,441,800. This trade represents a 5.88% increase in their position. Company insiders own 0.21% of the company’s stock.

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.