TransAlta Co. (TSE:TA) Receives C$18.00 Average Price Target from Brokerages

Shares of TransAlta Co. (TSE:TA - Get Free Report) NYSE: TAC have been given a consensus recommendation of "Moderate Buy" by the eight analysts that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is C$18.00.

Several equities research analysts have weighed in on the company. Desjardins dropped their price objective on TransAlta from C$16.00 to C$14.00 and set a "hold" rating for the company in a report on Tuesday, May 6th. Scotiabank dropped their price target on TransAlta from C$17.00 to C$16.00 and set a "sector perform" rating for the company in a research note on Thursday, May 8th. ATB Capital reduced their price objective on shares of TransAlta from C$19.00 to C$18.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. CIBC raised their target price on shares of TransAlta from C$18.50 to C$19.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Finally, National Bankshares reduced their price target on shares of TransAlta from C$20.00 to C$16.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th.

Insider Buying and Selling

In other news, Senior Officer Joel E. Hunter purchased 45,000 shares of the stock in a transaction on Thursday, February 27th. The shares were acquired at an average price of C$14.99 per share, with a total value of C$674,752.50. 0.21% of the stock is currently owned by corporate insiders.

TransAlta Trading Up 1.4%

Shares of TSE:TA traded up C$0.17 during trading on Monday, reaching C$12.56. 1,027,454 shares of the company traded hands, compared to its average volume of 1,999,863. The company has a current ratio of 0.74, a quick ratio of 0.62 and a debt-to-equity ratio of 229.66. TransAlta has a 52-week low of C$9.30 and a 52-week high of C$21.22. The firm has a market capitalization of C$3.77 billion, a price-to-earnings ratio of 17.90, a P/E/G ratio of -0.07 and a beta of 0.93. The business's fifty day moving average is C$12.59 and its 200-day moving average is C$15.31.

About TransAlta

TransAlta is an independent power producer based in Alberta, Canada. The company operates a diverse and growing fleet of electrical power generation assets in Canada, the United States, and Australia consisting of hydro, wind, solar, battery storage, gas and energy transition facilities. The majority of the company's revenues are derived from the sale of generation capacity, electricity, thermal energy, environmental attributes, and byproducts of power generation.