TransAlta (NYSE:TAC) Downgraded by Zacks Investment Research to “Sell”

TransAlta (NYSE:TAC) (TSE:TA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday, Zacks.com reports.

According to Zacks, “TransAlta is Canada’s largest non-regulated electric generation and marketing company. “

A number of other analysts also recently issued reports on the company. Royal Bank of Canada raised their price objective on TransAlta from $11.00 to $13.00 and gave the stock an “outperform” rating in a research report on Thursday, March 4th. Credit Suisse Group lifted their price objective on TransAlta from $17.50 to $18.50 and gave the company an “outperform” rating in a research note on Friday, March 19th. National Bank Financial reiterated a “sector perform” rating on shares of TransAlta in a research note on Friday, March 5th. Scotiabank boosted their target price on TransAlta from $13.50 to $14.50 and gave the stock an “outperform” rating in a research note on Friday, April 16th. Finally, CIBC boosted their price objective on TransAlta from $13.00 to $13.50 and gave the company an “outperform” rating in a research note on Tuesday, April 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $12.03.

Shares of TAC opened at $9.67 on Tuesday. TransAlta has a 52-week low of $5.22 and a 52-week high of $10.05. The company has a market capitalization of $2.61 billion, a PE ratio of -43.95 and a beta of 1.20. The stock has a fifty day simple moving average of $9.56 and a two-hundred day simple moving average of $8.18. The company has a quick ratio of 0.92, a current ratio of 1.13 and a debt-to-equity ratio of 0.90.

TransAlta (NYSE:TAC) (TSE:TA) last issued its quarterly earnings data on Tuesday, March 2nd. The utilities provider reported ($0.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.62). The business had revenue of $417.45 million for the quarter. TransAlta had a negative return on equity of 4.95% and a negative net margin of 2.23%. As a group, equities analysts anticipate that TransAlta will post -0.31 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of TAC. Lazard Asset Management LLC purchased a new position in TransAlta during the fourth quarter worth about $39,000. Susquehanna International Group LLP purchased a new position in TransAlta during the fourth quarter worth about $97,000. Great West Life Assurance Co. Can lifted its position in TransAlta by 12.4% during the third quarter. Great West Life Assurance Co. Can now owns 43,058 shares of the utilities provider’s stock worth $264,000 after buying an additional 4,734 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in TransAlta by 21.3% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 32,508 shares of the utilities provider’s stock worth $308,000 after buying an additional 5,715 shares during the period. Finally, Tacita Capital Inc purchased a new position in TransAlta during the fourth quarter worth about $972,000. Institutional investors and hedge funds own 58.13% of the company’s stock.

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.

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