TransAlta (TSE:TA) Rating Increased to Strong-Buy at Scotiabank

TransAlta (TSE:TA) (NYSE:TAC) was upgraded by analysts at Scotiabank to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

A number of other analysts also recently weighed in on TA. Scotia set a C$27.00 target price on shares of TransAlta and gave the stock a “sector outperform” rating in a research report on Wednesday. Royal Bank Of Canada set a C$24.00 target price on shares of TransAlta and gave the stock an “outperform” rating in a research report on Wednesday. Desjardins upped their target price on shares of TransAlta from C$18.00 to C$18.50 and gave the stock a “hold” rating in a research report on Wednesday. ATB Cormark Capital Markets set a C$28.00 target price on shares of TransAlta and gave the stock an “outperform” rating in a research report on Wednesday. Finally, National Bank Financial upped their target price on shares of TransAlta from C$22.00 to C$24.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of C$24.95.

TransAlta Stock Down 0.7%

Shares of TSE TA opened at C$17.27 on Wednesday. The company has a current ratio of 0.76, a quick ratio of 0.62 and a debt-to-equity ratio of 317.20. TransAlta has a 12 month low of C$14.07 and a 12 month high of C$25.03. The firm has a market capitalization of C$5.14 billion, a PE ratio of -23.03, a price-to-earnings-growth ratio of -0.07 and a beta of 0.69. The firm has a fifty day simple moving average of C$18.11 and a two-hundred day simple moving average of C$18.05.

TransAlta (TSE:TA) (NYSE:TAC) last issued its quarterly earnings data on Wednesday, May 6th. The company reported C$0.06 EPS for the quarter. TransAlta had a negative net margin of 7.73% and a negative return on equity of 11.56%. The business had revenue of C$560.00 million during the quarter.

Insider Activity at TransAlta

In related news, insider Christopher Douglas Fralick sold 36,453 shares of the stock in a transaction dated Thursday, March 26th. The shares were sold at an average price of C$17.90, for a total transaction of C$652,508.70. Following the sale, the insider directly owned 46,939 shares of the company’s stock, valued at approximately C$840,208.10. This represents a 43.71% decrease in their position. Also, insider Michael Politeski acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were purchased at an average cost of C$18.15 per share, for a total transaction of C$181,500.00. Following the completion of the transaction, the insider directly owned 65,000 shares in the company, valued at C$1,179,750. The trade was a 18.18% increase in their position. In the last ninety days, insiders have bought 20,450 shares of company stock valued at $361,748 and have sold 90,953 shares valued at $1,620,109. 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.