TransAlta (TSE:TA) Price Target Raised to C$19.00 at Desjardins

TransAlta (TSE:TA) (NYSE:TAC) had its target price lifted by equities research analysts at Desjardins from C$18.50 to C$19.00 in a report released on Friday,BayStreet.CA reports. The brokerage currently has a “hold” rating on the stock. Desjardins’ price target would suggest a potential downside of 2.56% from the stock’s previous close.

Several other brokerages have also issued reports on TA. TD set a C$26.00 price target on TransAlta and gave the company a “buy” rating in a research note on Wednesday, June 10th. Scotiabank raised shares of TransAlta to a “strong-buy” rating in a research report on Wednesday, June 10th. ATB Cormark Capital Markets set a C$28.00 target price on shares of TransAlta and gave the company an “outperform” rating in a research report on Wednesday, June 10th. Royal Bank Of Canada set a C$24.00 target price on shares of TransAlta and gave the stock an “outperform” rating in a research note on Wednesday, June 10th. Finally, Scotia set a C$27.00 price target on shares of TransAlta and gave the stock a “sector outperform” rating in a report on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, TransAlta presently has an average rating of “Buy” and a consensus price target of C$25.00.

TransAlta Trading Up 2.0%

TSE TA traded up C$0.39 during mid-day trading on Friday, reaching C$19.50. 201,669 shares of the stock were exchanged, compared to its average volume of 1,552,009. TransAlta has a one year low of C$14.08 and a one year high of C$25.03. The stock has a 50 day simple moving average of C$18.38 and a 200-day simple moving average of C$18.00. The stock has a market cap of C$6.16 billion, a P/E ratio of -26.00, a P/E/G ratio of -0.07 and a beta of 0.69. The company has a debt-to-equity ratio of 317.20, a current ratio of 0.76 and a quick ratio of 0.61.

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

Insider Buying and Selling

In other TransAlta news, insider Michael Politeski purchased 10,000 shares of the stock in a transaction dated Friday, June 19th. The shares were bought at an average cost of C$19.58 per share, with a total value of C$195,800.00. Following the completion of the transaction, the insider owned 75,000 shares in the company, valued at C$1,468,500. This trade represents a 15.38% increase in their position. Also, insider Jane Nyla Fedoretz sold 10,000 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of C$17.45, for a total value of C$174,500.00. Following the transaction, the insider directly owned 74,906 shares of the company’s stock, valued at C$1,307,109.70. This represents a 11.78% decrease in their position. In the last three months, insiders bought 30,450 shares of company stock worth $557,548 and sold 25,000 shares worth $445,000. 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.