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 analysts at Royal Bank Of Canada in a research report issued on Wednesday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target indicates a potential upside of 37.30% from the stock’s previous close.

A number of other equities analysts have also recently commented on TA. National Bank Financial boosted their price target on TransAlta from C$22.00 to C$24.00 and gave the stock an “outperform” rating in a report on Monday, June 1st. Scotia set a C$27.00 target price on TransAlta and gave the stock a “sector outperform” rating in a report on Wednesday. Desjardins lowered their target price 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. TD lowered their target price on TransAlta from C$27.00 to C$26.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Finally, ATB Cormark Capital Markets set a C$28.00 target price on TransAlta and gave the stock an “outperform” rating in a report on Wednesday. Nine analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$24.95.

TransAlta Price Performance

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

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

Insiders Place Their Bets

In related news, insider Michael Politeski purchased 10,000 shares of TransAlta stock in a transaction on Friday, June 5th. The shares were purchased at an average price of C$18.15 per share, for a total transaction of C$181,500.00. Following the transaction, the insider owned 65,000 shares of the company’s stock, valued at approximately C$1,179,750. This represents a 18.18% increase in their position. Also, insider Christopher Douglas Fralick sold 36,453 shares of the company’s stock in a transaction dated Thursday, March 26th. The shares were sold at an average price of C$17.90, for a total value of C$652,508.70. Following the completion of the sale, the insider owned 46,939 shares in the company, valued at C$840,208.10. This trade represents a 43.71% decrease in their position. In the last 90 days, insiders bought 20,450 shares of company stock valued at $361,748 and sold 95,953 shares valued at $1,707,409. 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.