TransAlta Co. (TSE:TA) Stock Now Rated "Buy" by Wall Street Brokerages

Key Points

• Analysts give TransAlta a consensus “Buy” rating: Eight of ten brokerages rate it a buy, one says hold and one says strong buy. The average 12-month price target is C$24.85, above the stock’s C$17.22 opening price.
• Recent analyst targets range from C$19.00 to C$27.00, though CIBC reduced its target to C$24.50. TransAlta’s shares remain well below their one-year high of C$25.03.
• TransAlta reported quarterly revenue of C$507 million and EPS of C$0.18, but posted a negative net margin and negative return on equity. Insider Michael Politeski purchased 5,000 shares, increasing his position by 5.88%.

TransAlta Co. (TSE:TA - Get Free Report) NYSE: TAC has been given a consensus rating of "Buy" by the ten brokerages that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is C$24.85.

A number of equities research analysts have weighed in on the company. Scotia set a C$27.00 target price on TransAlta and gave the stock a "sector outperform" rating in a report on Wednesday, June 10th. 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. TD set a C$26.00 price objective on shares of TransAlta and gave the stock a "buy" rating in a research report on Wednesday, June 10th. Desjardins lifted their price objective on shares of TransAlta from C$18.50 to C$19.00 and gave the company a "hold" rating in a research note on Friday, July 3rd. Finally, Royal Bank Of Canada set a C$24.00 target price on shares of TransAlta and gave the company an "outperform" rating in a research report on Wednesday, June 10th.

TransAlta Stock Performance

TA stock opened at C$17.22 on Thursday. The stock has a 50-day moving average price of C$17.22 and a 200-day moving average price of C$18.01. TransAlta has a 1-year low of C$15.62 and a 1-year high of C$25.03. The company has a current ratio of 0.84, a quick ratio of 0.61 and a debt-to-equity ratio of 238.01. The firm has a market cap of C$5.45 billion, a PE ratio of -55.55, a price-to-earnings-growth ratio of -0.07 and a beta of 0.69.

TransAlta (TSE:TA - Get Free Report) NYSE: TAC last announced its quarterly earnings data on Friday, July 31st. The company reported C$0.18 earnings per share (EPS) for the quarter. TransAlta had a negative return on equity of 1.50% and a negative net margin of 1.02%.The company had revenue of C$507.00 million for the quarter.

Insider Buying and Selling

In related news, insider Michael Politeski purchased 5,000 shares of the firm's stock in a transaction on Tuesday, September 15th. The stock was purchased at an average cost of C$16.02 per share, with a total value of C$80,100.00. Following the completion of the purchase, the insider owned 90,000 shares in the company, valued at approximately C$1,441,800. This trade represents a 5.88% increase in their position. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.