ATB Cormark Capital Markets Issues Positive Forecast for TransAlta (TSE:TA) Stock Price

TransAlta (TSE:TA) (NYSE:TAC) had its price objective raised by ATB Cormark Capital Markets from C$27.00 to C$28.00 in a research report issued on Tuesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ price target would indicate a potential upside of 58.82% from the company’s previous close.

TA has been the subject of a number of other research reports. National Bank Financial boosted their price objective on TransAlta from C$18.00 to C$22.00 and gave the company a “sector perform” rating in a research report on Wednesday, December 10th. Jefferies Financial Group dropped their target price on TransAlta from C$27.00 to C$22.00 in a research report on Wednesday, January 21st. Canadian Imperial Bank of Commerce raised their target price on TransAlta from C$25.00 to C$26.00 in a research note on Wednesday, December 17th. TD Securities boosted their price target on shares of TransAlta from C$26.00 to C$27.00 and gave the company a “buy” rating in a report on Wednesday, December 10th. Finally, Desjardins dropped their price objective on shares of TransAlta from C$19.00 to C$18.00 and set a “hold” rating on the stock in a report on Tuesday, February 10th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, TransAlta has an average rating of “Moderate Buy” and a consensus target price of C$24.25.

TransAlta Stock Performance

TA traded up C$1.12 on Tuesday, hitting C$17.63. 1,425,582 shares of the company’s stock were exchanged, compared to its average volume of 1,249,732. The company has a current ratio of 0.73, a quick ratio of 0.62 and a debt-to-equity ratio of 320.51. The stock has a fifty day moving average of C$17.70 and a two-hundred day moving average of C$19.15. TransAlta has a twelve month low of C$11.16 and a twelve month high of C$25.03. The firm has a market cap of C$5.23 billion, a PE ratio of -27.55, a P/E/G ratio of -0.07 and a beta of 0.49.

TransAlta (TSE:TA) (NYSE:TAC) last issued its earnings results on Friday, February 27th. The company reported C($0.06) EPS for the quarter. The company had revenue of C$712.00 million during the quarter. TransAlta had a negative net margin of 5.74% and a negative return on equity of 8.84%.

Insider Buying and Selling at TransAlta

In other news, insider Jane Nyla Fedoretz sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of C$17.46, for a total value of C$87,300.00. Following the completion of the sale, the insider directly owned 113,953 shares of the company’s stock, valued at approximately C$1,989,619.38. This represents a 4.20% decrease in their position. Corporate 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.