Brokerages Set TransAlta Co. (TSE:TA) PT at C$18.36

TransAlta Co. (TSE:TA) (NYSE:TAC) has received an average recommendation of “Moderate Buy” from the six research firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is C$18.36.

Several research firms recently weighed in on TA. TD Securities upped their price target on shares of TransAlta from C$18.00 to C$19.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Scotiabank cut TransAlta from an “outperform” rating to a “sector perform” rating and increased their target price for the company from C$19.00 to C$21.00 in a report on Thursday, January 30th. CIBC raised TransAlta from a “neutral” rating to an “outperform” rating and lowered their price target for the stock from C$23.00 to C$19.50 in a research note on Tuesday, February 18th. BMO Capital Markets increased their price objective on TransAlta from C$17.00 to C$22.00 in a research note on Monday, December 16th. Finally, Cibc World Mkts upgraded TransAlta from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 18th.

Insiders Place Their Bets

In other news, Senior Officer Joel E. Hunter bought 45,000 shares of TransAlta stock in a transaction on Thursday, February 27th. The shares were bought at an average cost 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 0.8 %

TA stock opened at C$13.54 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.74 and a debt-to-equity ratio of 229.66. TransAlta has a 52-week low of C$8.22 and a 52-week high of C$21.22. The company’s 50-day simple moving average is C$14.93 and its 200-day simple moving average is C$15.74. The firm has a market cap of C$4.07 billion, a P/E ratio of 19.30, a PEG ratio of -0.07 and a beta of 0.93.

TransAlta Company Profile

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.