TransAlta (TSE:TA – Get Free Report) (NYSE:TAC) was upgraded by investment analysts at Scotiabank to a “strong-buy” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.
A number of other brokerages have also weighed in on TA. ATB Cormark Capital Markets set a C$28.00 price objective on shares of TransAlta and gave the stock an “outperform” rating in a report on Wednesday. Desjardins upped their price target on shares of TransAlta from C$18.00 to C$18.50 and gave the company a “hold” rating in a report on Wednesday. Scotia set a C$27.00 price target on shares of TransAlta and gave the company a “sector outperform” rating in a report on Wednesday. TD set a C$26.00 price target on shares of TransAlta and gave the company a “buy” rating in a report on Wednesday. Finally, National Bank Financial upped their price target on shares of TransAlta from C$22.00 to C$24.00 and gave the company an “outperform” rating in a report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of C$24.95.
View Our Latest Research Report on TransAlta
TransAlta Trading Down 0.7%
TransAlta (TSE:TA – Get Free Report) (NYSE:TAC) last announced its quarterly earnings data on Wednesday, May 6th. The company reported C$0.06 earnings per share for the quarter. The firm had revenue of C$560.00 million during the quarter. TransAlta had a negative net margin of 7.73% and a negative return on equity of 11.56%.
Insider Activity at TransAlta
In related news, insider Michael Politeski acquired 10,000 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was acquired at an average cost of C$18.15 per share, for a total transaction of C$181,500.00. Following the acquisition, the insider owned 65,000 shares of the company’s stock, valued at C$1,179,750. This trade represents a 18.18% increase in their ownership of the stock. Also, insider Christopher Douglas Fralick sold 36,453 shares of the company’s stock in a transaction on Thursday, March 26th. The stock was sold at an average price of C$17.90, for a total transaction of C$652,508.70. Following the completion of the transaction, the insider owned 46,939 shares of the company’s stock, valued at C$840,208.10. This trade represents a 43.71% decrease in their ownership of the stock. In the last three months, insiders bought 20,450 shares of company stock worth $361,748 and sold 90,953 shares worth $1,620,109. 0.21% of the stock is currently owned by company 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.
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