Shares of TransAlta Co. (TSE:TA – Get Free Report) (NYSE:TAC) dropped 9% during mid-day trading on Thursday . The company traded as low as C$18.15 and last traded at C$18.28. Approximately 907,293 shares traded hands during trading, a decline of 31% from the average daily volume of 1,323,862 shares. The stock had previously closed at C$20.08.
Analyst Ratings Changes
A number of equities analysts have recently commented on TA shares. TD reduced their price objective on shares of TransAlta from C$27.00 to C$26.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. National Bank Financial raised their target price on shares of TransAlta from C$22.00 to C$24.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. Desjardins cut their price objective on shares of TransAlta from C$19.00 to C$18.00 and set a “hold” rating for the company in a research report on Tuesday, February 10th. Finally, ATB Cormark Capital Markets raised their price objective on shares of TransAlta from C$27.00 to C$28.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 24th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, TransAlta has a consensus rating of “Moderate Buy” and an average target price of C$24.67.
Check Out Our Latest Stock Analysis on TA
TransAlta Trading Down 1.7%
TransAlta (TSE:TA – Get Free Report) (NYSE:TAC) last released its earnings results on Wednesday, May 6th. The company reported C$0.06 earnings per share (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 for the quarter.
Insiders Place Their Bets
In other TransAlta news, insider Jane Nyla Fedoretz sold 10,000 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of C$18.25, for a total value of C$182,500.00. Following the completion of the sale, the insider directly owned 49,906 shares of the company’s stock, valued at approximately C$910,784.50. This represents a 16.69% decrease in their position. Also, insider Michael Politeski bought 10,000 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was bought at an average price of C$17.24 per share, for a total transaction of C$172,400.00. Following the completion of the purchase, the insider owned 55,000 shares of the company’s stock, valued at approximately C$948,200. The trade was a 22.22% increase in their ownership of the stock. In the last ninety days, insiders sold 95,953 shares of company stock valued at $1,707,409. Corporate insiders own 0.21% of the company’s stock.
About TransAlta
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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