TransAlta Co. (TSE:TA) Stock Rated “Buy” by Wall Street Analysts

Shares of TransAlta Co. (TSE:TA) (NYSE:TAC) have received a consensus rating of “Buy” from the eight ratings firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, six have assigned 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 ratings on the stock in the last year is C$24.61.

Separately, Canadian Imperial Bank of Commerce decreased their price objective on TransAlta from C$26.00 to C$24.50 in a research report on Tuesday, September 22nd.

Insider Buying and Selling

In related news, insider Michael Politeski purchased 5,000 shares of the business’s stock in a transaction on Tuesday, September 15th. The shares were purchased at an average price of C$16.02 per share, with a total value of C$80,100.00. Following the completion of the purchase, the insider owned 90,000 shares in the company, valued at C$1,441,800. This represents a 5.88% increase in their position. Company insiders own 0.21% of the company’s stock.

TransAlta Price Performance

TSE:TA opened at C$18.12 on Monday. TransAlta has a 1 year low of C$15.62 and a 1 year high of C$25.03. The company has a current ratio of 0.84, a quick ratio of 0.61 and a debt-to-equity ratio of 238.01. The stock has a market cap of C$5.73 billion, a price-to-earnings ratio of -58.45, a PEG ratio of -0.07 and a beta of 0.54. The stock has a 50-day moving average price of C$17.39 and a two-hundred day moving average price of C$17.97.

TransAlta (TSE:TA) (NYSE:TAC) last released its quarterly earnings results on Friday, July 31st. The company reported C$0.18 EPS for the quarter. TransAlta had a negative return on equity of 1.50% and a negative net margin of 1.02%. The company had revenue of C$507.00 million for the quarter.

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.