TD Securities Boosts TransAlta (TSE:TA) Price Target to C$16.00

TransAlta (TSE:TA) (NYSE:TAC) had its price objective increased by research analysts at TD Securities from C$14.00 to C$16.00 in a research note issued to investors on Tuesday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. TD Securities’ price objective would indicate a potential upside of 9.59% from the stock’s current price.

Other analysts have also issued research reports about the company. National Bankshares increased their target price on TransAlta from C$14.00 to C$15.00 and gave the company an “outperform” rating in a report on Friday, August 23rd. CIBC reduced their target price on TransAlta from C$16.50 to C$15.50 and set an “outperform” rating for the company in a report on Monday, July 22nd. Finally, BMO Capital Markets increased their target price on TransAlta from C$16.00 to C$17.00 in a report on Thursday, September 5th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, TransAlta currently has an average rating of “Buy” and an average target price of C$15.50.

TransAlta Stock Performance

TA opened at C$14.60 on Tuesday. The company has a market capitalization of C$4.35 billion, a price-to-earnings ratio of 7.62, a price-to-earnings-growth ratio of -0.07 and a beta of 0.93. The company has a debt-to-equity ratio of 219.87, a current ratio of 0.84 and a quick ratio of 0.62. TransAlta has a 1-year low of C$8.22 and a 1-year high of C$14.73. The business has a 50 day moving average price of C$13.08 and a two-hundred day moving average price of C$10.90.

TransAlta (TSE:TA) (NYSE:TAC) last announced its quarterly earnings data on Thursday, August 1st. The company reported C$0.18 EPS for the quarter, beating analysts’ consensus estimates of C$0.07 by C$0.11. TransAlta had a return on equity of 32.01% and a net margin of 19.50%. The company had revenue of C$582.00 million during the quarter.

Insiders Place Their Bets

In other news, Senior Officer Jane Nyla Fedoretz sold 41,378 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of C$11.30, for a total transaction of C$467,571.40. In other news, Senior Officer Jane Nyla Fedoretz sold 41,378 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of C$11.30, for a total transaction of C$467,571.40. Also, Senior Officer Kerry Lynn O’reilly sold 48,833 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of C$10.99, for a total transaction of C$536,674.67. Insiders sold a total of 120,217 shares of company stock worth $1,397,220 over the last quarter. Company insiders own 0.21% of the company’s stock.

TransAlta Company Profile

TransAlta Corporation engages in the development, production, and sale of electric energy. It operates through Hydro, Wind and Solar, Gas, Energy Transition, and Energy Marketing segments. The Hydro segment holds interest of approximately 922 megawatts (MW) of owned hydroelectric generating capacity located in Alberta, British Columbia, and Ontario.