TransAlta (TSE:TA) Given New C$24.00 Price Target at National Bank Financial

TransAlta (TSE:TA) (NYSE:TAC) had its target price lifted by equities research analysts at National Bank Financial from C$22.00 to C$24.00 in a report issued on Monday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. National Bank Financial’s target price would suggest a potential upside of 22.14% from the stock’s current price.

Several other equities analysts also recently commented on TA. ATB Cormark Capital Markets raised their target price on TransAlta from C$27.00 to C$28.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 24th. TD cut their target price 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. Finally, Desjardins cut their target price 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. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$24.67.

TransAlta Stock Performance

Shares of TSE:TA remained flat at C$19.65 during trading on Monday. The stock had a trading volume of 370,038 shares, compared to its average volume of 1,322,900. TransAlta has a one year low of C$13.18 and a one year high of C$25.03. The stock has a market capitalization of C$5.85 billion, a P/E ratio of -26.20, a price-to-earnings-growth ratio of -0.07 and a beta of 0.54. The company has a fifty day moving average price of C$17.94 and a two-hundred day moving average price of C$18.17. The company has a quick ratio of 0.62, a current ratio of 0.76 and a debt-to-equity ratio of 317.20.

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

Insider Buying and Selling at TransAlta

In other TransAlta news, insider Michael Politeski acquired 10,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was purchased at an average price of C$17.24 per share, for a total transaction of C$172,400.00. Following the transaction, the insider owned 55,000 shares in the company, valued at C$948,200. This trade represents a 22.22% increase in their position. Also, insider Jane Nyla Fedoretz sold 10,000 shares of TransAlta stock in a transaction on Thursday, May 7th. The shares were sold at an average price of C$17.45, for a total value of C$174,500.00. Following the completion of the transaction, the insider owned 74,906 shares of the company’s stock, valued at approximately C$1,307,109.70. The trade was a 11.78% decrease in their position. In the last quarter, insiders sold 95,953 shares of company stock worth $1,707,409. 0.21% of the stock is currently owned by insiders.

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.