TransAlta (TSE:TA) (NYSE:TAC) had its target price decreased by research analysts at BMO Capital Markets from C$8.00 to C$7.50 in a research report issued to clients and investors on Wednesday. BMO Capital Markets’ price target would suggest a potential upside of 11.77% from the stock’s current price.
TA has been the subject of several other reports. Canaccord Genuity set a C$7.00 target price on shares of TransAlta and gave the stock a “hold” rating in a report on Friday, May 4th. National Bank Financial decreased their target price on shares of TransAlta from C$9.50 to C$8.00 and set a “sector perform” rating for the company in a report on Monday, January 29th. Scotiabank set a C$9.00 target price on shares of TransAlta and gave the stock an “outperform” rating in a report on Tuesday, March 6th. Finally, GMP Securities raised their target price on shares of TransAlta from C$8.25 to C$8.50 in a report on Monday, March 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of C$8.13.
Shares of TransAlta opened at C$6.71 on Wednesday, according to MarketBeat. TransAlta has a one year low of C$6.31 and a one year high of C$8.50.
TransAlta (TSE:TA) (NYSE:TAC) last announced its earnings results on Thursday, March 1st. The company reported C($0.14) EPS for the quarter, missing the consensus estimate of C$0.01 by C($0.15). TransAlta had a negative return on equity of 4.34% and a negative net margin of 6.46%. The firm had revenue of C$638.00 million during the quarter, compared to analyst estimates of C$605.06 million.
In related news, Director Gordon Giffin purchased 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 6th. The stock was acquired at an average cost of C$5.68 per share, for a total transaction of C$28,400.00. Over the last 90 days, insiders have purchased 10,027 shares of company stock valued at $56,588.
TransAlta Company Profile
TransAlta Corporation operates as non-regulated electricity generation and energy marketing company in Canada, the United States, and Western Australia. The company operates through eight segments: Canadian Coal, U.S. Coal, Canadian Gas, Australian Gas, Wind and Solar, Hydro, Energy Marketing, and Corporate.
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