Shares of TransAlta Co. (TSE:TA – Get Free Report) (NYSE:TAC) have been assigned an average rating of “Buy” from the ten ratings firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is C$24.85.
TA has been the topic of several analyst reports. Scotiabank raised TransAlta to a “strong-buy” rating in a research note on Wednesday, June 10th. Desjardins lifted their target price on TransAlta from C$18.50 to C$19.00 and gave the stock a “hold” rating in a report on Friday, July 3rd. TD set a C$26.00 price target on TransAlta and gave the stock a “buy” rating in a research report on Wednesday, June 10th. Scotia set a C$27.00 price objective on shares of TransAlta and gave the stock a “sector outperform” rating in a research note on Wednesday, June 10th. Finally, Canadian Imperial Bank of Commerce cut their price objective on shares of TransAlta from C$26.00 to C$24.50 in a research report on Tuesday, September 22nd.
View Our Latest Research Report on TA
TransAlta Stock Performance
TransAlta (TSE:TA – Get Free Report) (NYSE:TAC) last announced its earnings results on Friday, July 31st. The company reported C$0.18 earnings per share (EPS) for the quarter. TransAlta had a negative net margin of 1.02% and a negative return on equity of 1.50%. The firm had revenue of C$507.00 million for the quarter.
Insider Activity at TransAlta
In other news, insider Michael Politeski purchased 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 4th. The shares were bought at an average cost of C$17.77 per share, for a total transaction of C$177,700.00. Following the acquisition, the insider owned 85,000 shares of the company’s stock, valued at approximately C$1,510,450. This trade represents a 13.33% increase in their position. Corporate insiders own 0.21% of the company’s stock.
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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