TransAlta (TSE:TA) Stock Price Expected to Rise, Desjardins Analyst Says

TransAlta (TSE:TA) (NYSE:TAC) had its price objective raised by equities research analysts at Desjardins from C$18.00 to C$18.50 in a note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has a “hold” rating on the stock. Desjardins’ price target suggests a potential upside of 5.84% from the company’s current price.

Other research analysts also recently issued reports about the company. Royal Bank Of Canada set a C$24.00 price target on TransAlta and gave the stock an “outperform” rating in a research note on Wednesday. ATB Cormark Capital Markets set a C$28.00 target price on TransAlta and gave the company an “outperform” rating in a report on Wednesday. Scotia set a C$27.00 target price on TransAlta and gave the company a “sector outperform” rating in a report on Wednesday. TD dropped their target price on TransAlta from C$27.00 to C$26.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Finally, National Bank Financial raised their target price on TransAlta from C$22.00 to C$24.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Nine research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, TransAlta has a consensus rating of “Moderate Buy” and an average price target of C$24.95.

TransAlta Stock Up 0.5%

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

TransAlta (TSE:TA) (NYSE:TAC) last posted its quarterly earnings results 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 business had revenue of C$560.00 million for the quarter.

Insider Activity

In related news, insider Jane Nyla Fedoretz sold 10,000 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of C$17.45, for a total transaction of C$174,500.00. Following the completion of the sale, the insider directly owned 74,906 shares of the company’s stock, valued at approximately C$1,307,109.70. This trade represents a 11.78% decrease in their ownership of the stock. Also, insider Christopher Douglas Fralick sold 36,453 shares of the stock in a transaction that occurred on Thursday, March 26th. The shares were sold at an average price of C$17.90, for a total value of C$652,508.70. Following the sale, the insider directly owned 46,939 shares of the company’s stock, valued at C$840,208.10. The trade was a 43.71% decrease in their ownership of the stock. Over the last 90 days, insiders have purchased 20,450 shares of company stock worth $361,748 and have sold 95,953 shares worth $1,707,409. Corporate 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.