TransAlta (TA) Price Target Cut to C$8.00 by Analysts at National Bank Financial

TransAlta (TSE:TA) (NYSE:TAC) had its target price decreased by investment analysts at National Bank Financial from C$9.50 to C$8.00 in a research note issued to investors on Monday. The firm currently has a “sector perform” rating on the stock. National Bank Financial’s price target indicates a potential upside of 16.62% from the stock’s previous close.

TA has been the subject of several other reports. CSFB lifted their target price on shares of TransAlta from C$7.00 to C$8.00 and gave the company an “underperform” rating in a report on Thursday, December 7th. CIBC lifted their target price on shares of TransAlta from C$8.25 to C$8.50 in a report on Thursday, December 7th. Scotiabank lifted their target price on shares of TransAlta from C$8.00 to C$9.00 and gave the company a “sector perform” rating in a report on Thursday, December 7th. Finally, Royal Bank of Canada lifted their target price on shares of TransAlta from C$8.00 to C$9.00 and gave the company a “sector perform” rating in a report on Thursday, December 7th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. TransAlta has an average rating of “Hold” and a consensus target price of C$8.36.

Shares of TransAlta (TSE TA) traded down C$0.03 on Monday, reaching C$6.86. 331,786 shares of the company’s stock traded hands, compared to its average volume of 399,547. TransAlta has a twelve month low of C$6.81 and a twelve month high of C$8.50. The stock has a market capitalization of $1,980.00, a price-to-earnings ratio of 114.33 and a beta of 0.43.

TransAlta (TSE:TA) (NYSE:TAC) last issued its quarterly earnings data on Tuesday, October 31st. The company reported C($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.03 by C($0.12). TransAlta had a negative return on equity of 4.34% and a negative net margin of 6.46%.

In other news, insider David Fuller purchased 9,832 shares of TransAlta stock in a transaction that occurred on Thursday, November 30th. The stock was bought at an average price of C$47.98 per share, with a total value of C$471,739.36. Also, insider John Harry Kousinioris purchased 18,800 shares of TransAlta stock in a transaction that occurred on Tuesday, December 19th. The shares were purchased at an average cost of C$7.49 per share, with a total value of C$140,812.00. Insiders have bought 38,932 shares of company stock valued at $692,788 over the last quarter.

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About TransAlta

TransAlta Corporation (TransAlta) is a non-regulated electricity generation and energy marketing company with an aggregate net ownership interest of approximately 8,720 megawatts of generating capacity. The Company is engaged in the production and sale of electric energy. It focuses on generating and marketing electricity in Canada, the United States and Western Australia through its diversified portfolio of facilities fuelled by coal, natural gas, diesel, hydro, wind and solar.

Analyst Recommendations for TransAlta (TSE:TA)

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