TransAlta (TSE:TA) Upgraded to “Outperform” at National Bank Financial

TransAlta (TSE:TA) (NYSE:TAC) was upgraded by equities research analysts at National Bank Financial from a “sector perform” rating to an “outperform” rating in a note issued to investors on Tuesday,BayStreet.CA reports. The firm presently has a C$22.00 target price on the stock. National Bank Financial’s target price points to a potential upside of 24.79% from the company’s previous close.

A number of other equities analysts also recently weighed in on the stock. Jefferies Financial Group cut their price target on shares of TransAlta from C$27.00 to C$22.00 in a report on Wednesday, January 21st. TD Securities raised their price objective on shares of TransAlta from C$26.00 to C$27.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Canadian Imperial Bank of Commerce boosted their target price on shares of TransAlta from C$25.00 to C$26.00 in a research note on Wednesday, December 17th. Desjardins reduced their target price 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 target on shares of TransAlta from C$27.00 to C$28.00 and gave the stock an “outperform” rating in a research note on Tuesday. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, TransAlta has an average rating of “Moderate Buy” and an average price target of C$24.25.

TransAlta Stock Performance

TransAlta stock traded up C$1.12 during mid-day trading on Tuesday, reaching C$17.63. 1,425,582 shares of the company’s stock were exchanged, compared to its average volume of 1,249,732. The business’s fifty day simple moving average is C$17.70 and its 200 day simple moving average is C$19.15. The firm has a market capitalization of C$5.23 billion, a PE ratio of -27.55, a P/E/G ratio of -0.07 and a beta of 0.49. TransAlta has a one year low of C$11.16 and a one year high of C$25.03. The company has a quick ratio of 0.62, a current ratio of 0.73 and a debt-to-equity ratio of 320.51.

TransAlta (TSE:TA) (NYSE:TAC) last announced its quarterly earnings data on Friday, February 27th. The company reported C($0.06) earnings per share (EPS) for the quarter. TransAlta had a negative net margin of 5.74% and a negative return on equity of 8.84%. The business had revenue of C$712.00 million during the quarter.

Insider Activity at TransAlta

In related news, insider Jane Nyla Fedoretz sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of C$17.46, for a total transaction of C$87,300.00. Following the sale, the insider directly owned 113,953 shares in the company, valued at approximately C$1,989,619.38. This represents a 4.20% decrease in their position. 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.