TransAlta Co. (TSE:TA) Given Consensus Rating of "Buy" by Brokerages

Key Points

• Analysts maintain a bullish outlook: TransAlta received a consensus “Buy” rating from 10 brokerages, with eight buys, one hold and one strong buy. The average 12-month price target is C$25.00, compared with shares opening at C$17.38.
• Recent firms raised or issued positive targets, including Scotia at C$27.00, TD at C$26.00, National Bank at C$24.00 and RBC at C$24.00.
• TransAlta reported quarterly revenue of C$507 million and earnings of C$0.18 per share, while recent insider activity was net positive, with insiders buying 30,450 shares over the past 90 days.

TransAlta Co. (TSE:TA - Get Free Report) NYSE: TAC has received a consensus recommendation of "Buy" from the ten ratings firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is C$25.00.

Several research analysts have recently issued reports on the stock. Scotia set a C$27.00 price target on shares of TransAlta and gave the stock a "sector outperform" rating in a report on Wednesday, June 10th. National Bank Financial raised their price objective on TransAlta from C$22.00 to C$24.00 and gave the company an "outperform" rating in a report on Monday, June 1st. Royal Bank Of Canada set a C$24.00 price objective on TransAlta and gave the stock an "outperform" rating in a research report on Wednesday, June 10th. TD set a C$26.00 target price on TransAlta and gave the stock a "buy" rating in a report on Wednesday, June 10th. Finally, Scotiabank upgraded TransAlta to a "strong-buy" rating in a research report on Wednesday, June 10th.

TransAlta Trading Up 1.6%

Shares of TA opened at C$17.38 on Wednesday. The company has a debt-to-equity ratio of 238.01, a quick ratio of 0.61 and a current ratio of 0.84. TransAlta has a 52-week low of C$15.62 and a 52-week high of C$25.03. The firm has a market cap of C$5.50 billion, a price-to-earnings ratio of -56.06, a PEG ratio of -0.07 and a beta of 0.73. The business's fifty day moving average is C$18.86 and its 200-day moving average is C$18.27.

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

Insider Activity at TransAlta

In other TransAlta news, insider Michael Politeski acquired 10,000 shares of the company's stock in a transaction that occurred on Tuesday, August 4th. The stock was acquired at an average price of C$17.77 per share, for a total transaction of C$177,700.00. Following the acquisition, the insider directly owned 85,000 shares in the company, valued at C$1,510,450. This represents a 13.33% increase in their ownership of the stock. Also, insider Jane Nyla Fedoretz sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of C$18.25, for a total transaction of C$182,500.00. Following the completion of the transaction, the insider owned 49,906 shares of the company's stock, valued at approximately C$910,784.50. This trade represents a 16.69% decrease in their position. Insiders bought 30,450 shares of company stock valued at $562,848 in the last ninety days. 0.21% of the stock is currently owned by 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.

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