TransAlta (TSE:TA) Given a C$24.00 Price Target at Royal Bank Of Canada

TransAlta (TSE:TA) (NYSE:TAC) has been assigned a C$24.00 price objective by stock analysts at Royal Bank Of Canada in a report released on Wednesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective points to a potential upside of 37.30% from the stock’s previous close.

Several other analysts also recently issued reports on TA. TD reduced their price target on 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. ATB Cormark Capital Markets set a C$28.00 price target on TransAlta and gave the company an “outperform” rating in a research note on Wednesday. Scotia set a C$27.00 price target on TransAlta and gave the company a “sector outperform” rating in a research note on Wednesday. National Bank Financial lifted their price objective on TransAlta from C$22.00 to C$24.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Finally, Desjardins dropped their price objective on TransAlta from C$19.00 to C$18.00 and set a “hold” rating for the company in a report on Tuesday, February 10th. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, TransAlta has an average rating of “Moderate Buy” and an average target price of C$24.95.

TransAlta Stock Performance

TA traded up C$0.08 during trading on Wednesday, hitting C$17.48. The stock had a trading volume of 1,132,181 shares, compared to its average volume of 1,452,348. The company has a 50 day moving average price of C$18.12 and a 200-day moving average price of C$18.07. The firm has a market cap of C$5.21 billion, a price-to-earnings ratio of -23.31, a P/E/G ratio of -0.07 and a beta of 0.69. TransAlta has a one year low of C$14.07 and a one year high of C$25.03. The company has a debt-to-equity ratio of 317.20, a current ratio of 0.76 and a quick ratio of 0.62.

TransAlta (TSE:TA) (NYSE:TAC) last released its quarterly earnings results on Wednesday, May 6th. The company reported C$0.06 earnings per share (EPS) for the quarter. The business had revenue of C$560.00 million during the quarter. TransAlta had a negative return on equity of 11.56% and a negative net margin of 7.73%.

Insider Activity at TransAlta

In other news, insider Michael Politeski acquired 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were acquired at an average cost of C$18.15 per share, with a total value of C$181,500.00. Following the completion of the purchase, the insider directly owned 65,000 shares of the company’s stock, valued at C$1,179,750. The trade was a 18.18% increase in their position. Also, insider Jane Nyla Fedoretz sold 10,000 shares of TransAlta stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of C$17.45, for a total transaction of C$174,500.00. Following the completion of the transaction, the insider directly owned 74,906 shares in the company, valued at C$1,307,109.70. This trade represents a 11.78% decrease in their ownership of the stock. Over the last three months, insiders have bought 20,450 shares of company stock valued at $361,748 and have sold 95,953 shares valued at $1,707,409. 0.21% of the stock is currently owned by insiders.

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.