TransAlta (NYSE:TAC – Get Free Report) (TSE:TA) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Thursday, Zacks reports.
Other equities research analysts have also issued research reports about the stock. BMO Capital Markets restated an “outperform” rating on shares of TransAlta in a research note on Monday, August 3rd. Weiss Ratings raised TransAlta from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of TransAlta in a research report on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, TransAlta presently has a consensus rating of “Buy” and a consensus price target of $24.50.
View Our Latest Stock Report on TransAlta
TransAlta Stock Performance
TAC traded down $0.10 during trading on Thursday, hitting $13.02. 1,138,061 shares of the company traded hands, compared to its average volume of 1,349,584. TransAlta has a one year low of $11.38 and a one year high of $15.98. The stock’s fifty day moving average is $12.47 and its 200 day moving average is $12.95. The company has a quick ratio of 0.77, a current ratio of 0.84 and a debt-to-equity ratio of 3.64. The firm has a market cap of $4.12 billion, a P/E ratio of 118.34 and a beta of 0.73.
TransAlta (NYSE:TAC – Get Free Report) (TSE:TA) last announced its quarterly earnings data on Tuesday, November 3rd. The utilities provider reported $0.13 EPS for the quarter, topping the consensus estimate of $0.05 by $0.08. The business had revenue of $376.43 million for the quarter, compared to analyst estimates of $366.40 million. TransAlta had a negative net margin of 2.76% and a positive return on equity of 8.85%. As a group, equities analysts predict that TransAlta will post 0.28 EPS for the current fiscal year.
Hedge Funds Weigh In On TransAlta
Several large investors have recently modified their holdings of TAC. Bank of America Corp DE purchased a new stake in shares of TransAlta during the 2nd quarter valued at approximately $123,434,000. Value Aligned Research Advisors LLC purchased a new position in TransAlta in the 1st quarter valued at approximately $34,128,000. Cibc World Market Inc. bought a new stake in TransAlta during the 2nd quarter valued at $31,799,000. TD Waterhouse Canada Inc. bought a new stake in TransAlta during the 2nd quarter valued at $28,581,000. Finally, Bank of Nova Scotia bought a new stake in TransAlta during the 2nd quarter valued at $28,349,000. Hedge funds and other institutional investors own 59.00% of the company’s stock.
About TransAlta
TransAlta Corporation is a Canada-based power generation and wholesale marketing company headquartered in Calgary, Alberta. The company develops, owns and operates a diversified portfolio of electricity-generating facilities, including hydroelectric, wind, solar, natural gas and coal-fired power assets.
TransAlta supplies electricity to utilities, commercial and industrial customers, and wholesale markets. Its activities include power generation, energy marketing, asset management and the development of renewable energy projects.
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