TransAlta (TSE:TA) Shares Pass Above 200 Day Moving Average – Should You Sell?

TransAlta Co. (TSE:TA) (NYSE:TAC)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$15.24 and traded as high as C$15.45. TransAlta shares last traded at C$15.12, with a volume of 3,220,989 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. CIBC raised their price objective on TransAlta from C$18.50 to C$19.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. ATB Capital dropped their target price on shares of TransAlta from C$19.00 to C$18.00 and set an “outperform” rating for the company in a report on Thursday, May 8th. Scotiabank dropped their target price on shares of TransAlta from C$17.00 to C$16.00 and set a “sector perform” rating for the company in a report on Thursday, May 8th. National Bankshares dropped their target price on shares of TransAlta from C$20.00 to C$16.00 and set an “outperform” rating for the company in a report on Thursday, May 8th. Finally, Desjardins dropped their target price on shares of TransAlta from C$16.00 to C$14.00 and set a “hold” rating for the company in a report on Tuesday, May 6th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of C$18.22.

TransAlta Price Performance

The stock has a market cap of C$4.54 billion, a price-to-earnings ratio of 21.55, a price-to-earnings-growth ratio of -0.07 and a beta of 0.93. The stock’s 50 day moving average price is C$13.11 and its two-hundred day moving average price is C$15.24. The company has a quick ratio of 0.62, a current ratio of 0.74 and a debt-to-equity ratio of 229.66.

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.