TransAlta (TSE:TA) Stock Price Crosses Below 200 Day Moving Average – Here’s Why

Shares of TransAlta Co. (TSE:TA) (NYSE:TAC) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$18.43 and traded as low as C$17.10. TransAlta shares last traded at C$17.44, with a volume of 314,465 shares trading hands.

Analyst Upgrades and Downgrades

TA has been the topic of a number of recent analyst reports. Desjardins boosted 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. ATB Capital lifted their price target on TransAlta from C$26.00 to C$27.00 and gave the company an “outperform” rating in a report on Wednesday, December 10th. National Bankshares upped their price target on shares of TransAlta from C$18.00 to C$22.00 and gave the stock a “sector perform” rating in a research report on Wednesday, December 10th. Scotiabank increased their price objective on shares of TransAlta from C$23.00 to C$27.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Finally, Jefferies Financial Group boosted their target price on shares of TransAlta from C$20.00 to C$27.00 and gave the stock a “buy” rating in a research note on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$25.13.

TransAlta Stock Performance

The firm has a fifty day moving average of C$20.93 and a 200-day moving average of C$18.43. The company has a quick ratio of 0.62, a current ratio of 0.74 and a debt-to-equity ratio of 229.66. The firm has a market cap of C$5.17 billion, a P/E ratio of -27.25, a PEG ratio of -0.07 and a beta of 0.67.

TransAlta (TSE:TA) (NYSE:TAC) last announced its quarterly earnings data on Thursday, November 6th. The company reported C($0.02) earnings per share for the quarter. The firm had revenue of C$674.00 million for the quarter. TransAlta had a return on equity of 12.03% and a net margin of 7.49%.

TransAlta Company Profile

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.