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

TransAlta (TSE:TA) (NYSE:TAC) received a C$28.00 price target from investment analysts at ATB Cormark Capital Markets in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ price target would suggest a potential upside of 60.18% from the stock’s current price.

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

TransAlta Stock Performance

Shares of TSE TA traded up C$0.08 during midday trading on Wednesday, hitting C$17.48. 1,132,181 shares of the company’s stock were exchanged, compared to its average volume of 1,452,348. The company has a debt-to-equity ratio of 317.20, a current ratio of 0.76 and a quick ratio of 0.62. The stock’s 50 day moving average price is C$18.12 and its 200-day moving average price is C$18.07. The firm has a market cap of C$5.21 billion, a P/E ratio of -23.31, a PEG ratio of -0.07 and a beta of 0.69. TransAlta has a twelve month low of C$14.07 and a twelve month high of C$25.03.

TransAlta (TSE:TA) (NYSE:TAC) last issued its quarterly earnings data on Wednesday, May 6th. The company reported C$0.06 earnings per share (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 Activity

In other news, insider Christopher Douglas Fralick sold 36,453 shares of the company’s stock in a transaction on 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 owned 46,939 shares in the company, valued at C$840,208.10. This represents a 43.71% decrease in their ownership of the stock. Also, insider Jane Nyla Fedoretz sold 10,000 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were 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 owned 49,906 shares of the company’s stock, valued at approximately C$910,784.50. This trade represents a 16.69% decrease in their position. Over the last 90 days, insiders bought 20,450 shares of company stock worth $361,748 and sold 95,953 shares worth $1,707,409. 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.