TransAlta (TSE:TA) Price Target Increased to C$13.50 by Analysts at CIBC

TransAlta (TSE:TA) (NYSE:TAC) had its price target lifted by CIBC from C$13.00 to C$13.50 in a report published on Tuesday, Analyst Ratings Network reports. CIBC currently has an outperform rating on the stock.

Several other brokerages have also recently issued reports on TA. Scotiabank boosted their price objective on shares of TransAlta from C$13.50 to C$14.50 in a research note on Friday, April 16th. Royal Bank of Canada reissued an outperform rating on shares of TransAlta in a research note on Friday, March 26th. Credit Suisse Group reissued a sector perform rating on shares of TransAlta in a research note on Thursday, January 21st. TD Securities raised their target price on shares of TransAlta from C$11.00 to C$12.50 and gave the stock a buy rating in a research report on Thursday, March 4th. Finally, CSFB increased their price target on TransAlta from C$16.00 to C$17.50 in a research note on Wednesday, January 20th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has an average rating of Buy and an average price target of C$13.81.

Shares of TA opened at C$12.23 on Tuesday. TransAlta has a 1 year low of C$7.18 and a 1 year high of C$12.50. The stock has a market capitalization of C$3.30 billion and a PE ratio of -10.01. The company has a debt-to-equity ratio of 119.06, a quick ratio of 1.32 and a current ratio of 2.03. The stock has a 50-day simple moving average of C$11.57 and a 200-day simple moving average of C$10.17.

TransAlta (TSE:TA) (NYSE:TAC) last released its quarterly earnings data on Wednesday, March 3rd. The company reported C($0.22) EPS for the quarter, missing analysts’ consensus estimates of C$0.01 by C($0.23). The firm had revenue of C$544.00 million during the quarter. Analysts predict that TransAlta will post -0.28 EPS for the current year.

In other TransAlta news, Senior Officer Brett Gellner bought 49,869 shares of TransAlta stock in a transaction on Wednesday, March 10th. The stock was purchased at an average cost of C$10.71 per share, for a total transaction of C$534,096.99. Following the completion of the purchase, the insider now directly owns 52,693 shares of the company’s stock, valued at C$564,342.03. Also, Director Dawn Lorraine Farrell purchased 125,384 shares of TransAlta stock in a transaction on Wednesday, March 10th. The stock was bought at an average cost of C$10.71 per share, with a total value of C$1,342,862.64. Following the transaction, the director now directly owns 383,702 shares of the company’s stock, valued at C$4,109,448.42. Insiders have bought 175,255 shares of company stock worth $1,876,984 over the last three months.

TransAlta Company Profile

TransAlta Corporation owns, operates, and develops a diverse fleet of electrical power generation assets in Canada, the United States, and Australia. It operates through six segments: Hydro, Wind and Solar, North American Gas, Australian Gas, Alberta Thermal, and Centralia. The company owns and operates hydro, wind and solar, natural gas-fired, and coal-fired facilities.

Further Reading: Systematic Risk and Investors

Analyst Recommendations for TransAlta (TSE:TA)

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