TransAlta Co. (TSE:TA) Receives Average Rating of “Buy” from Brokerages

Shares of TransAlta Co. (TSE:TA) (NYSE:TAC) have earned a consensus rating of “Buy” from the nine brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is C$22.89.

TA has been the subject of a number of research reports. Jefferies Financial Group raised their target price on shares of TransAlta from C$20.00 to C$27.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. Desjardins raised their price objective on TransAlta from C$16.50 to C$21.00 and gave the stock a “hold” rating in a research note on Wednesday, October 22nd. National Bankshares boosted their target price on TransAlta from C$16.00 to C$17.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 5th. TD Securities reduced 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 Friday. Finally, ATB Capital lifted their price target on TransAlta from C$18.00 to C$20.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 5th.

TransAlta Stock Performance

TSE:TA opened at C$21.77 on Monday. The company has a 50-day moving average of C$20.64 and a 200-day moving average of C$16.91. The firm has a market cap of C$6.45 billion, a price-to-earnings ratio of -40.31, a price-to-earnings-growth ratio of -0.07 and a beta of 0.74. The company has a current ratio of 0.74, a quick ratio of 0.62 and a debt-to-equity ratio of 229.66. TransAlta has a twelve month low of C$11.16 and a twelve month high of C$25.03.

About TransAlta

TransAlta is an independent power producer based in Alberta, Canada. The company operates a diverse and growing fleet of electrical power generation assets in Canada, the United States, and Australia consisting of hydro, wind, solar, battery storage, gas and energy transition facilities. The majority of the company’s revenues are derived from the sale of generation capacity, electricity, thermal energy, environmental attributes, and byproducts of power generation.