TransAlta (TSE:TA) Stock Gets Price Target Cut from National Bank Financial

TransAlta (TSE:TA) (NYSE:TAC) had its price target decreased by National Bank Financial from C$24.00 to C$23.00 in a report published on Wednesday,BayStreet reports. National Bank Financial currently has an outperform rating on the stock.

Separately, Canadian Imperial Bank of Commerce cut their price target on TransAlta from C$26.00 to C$24.50 in a report on Tuesday, September 22nd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, TransAlta currently has a consensus rating of “Buy” and a consensus price target of C$24.50.

TransAlta Stock Performance

Shares of TSE TA traded down C$0.02 during trading hours on Wednesday, hitting C$18.38. 1,510,707 shares of the company’s stock were exchanged, compared to its average volume of 1,724,297. TransAlta has a 1-year low of C$15.62 and a 1-year high of C$22.39. The company has a debt-to-equity ratio of 225.67, a current ratio of 0.87 and a quick ratio of 0.61. The stock has a market capitalization of C$5.81 billion, a price-to-earnings ratio of 167.09, a PEG ratio of -0.07 and a beta of 0.31. The company’s 50-day moving average price is C$17.51 and its 200-day moving average price is C$18.00.

TransAlta (TSE:TA) (NYSE:TAC) last announced its earnings results on Tuesday, November 3rd. The company reported C$0.18 earnings per share for the quarter. The firm had revenue of C$536.00 million during the quarter. TransAlta had a return on equity of 6.38% and a net margin of 4.71%.

Insider Buying and Selling

In other news, insider Michael Politeski purchased 5,000 shares of the business’s stock in a transaction on Tuesday, September 15th. The stock was purchased at an average price of C$16.02 per share, with a total value of C$80,100.00. Following the acquisition, the insider directly owned 90,000 shares in the company, valued at approximately C$1,441,800. The trade was a 5.88% increase in their position. 0.21% of the stock is currently owned by company insiders.

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.