TransAlta (TSE:TA) Shares Cross Below 200-Day Moving Average – Here’s Why

TransAlta Co. (TSE:TA) (NYSE:TAC)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$18.62 and traded as low as C$17.16. TransAlta shares last traded at C$17.56, with a volume of 863,038 shares trading hands.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Scotiabank raised their price target on TransAlta from C$23.00 to C$27.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. ATB Capital increased their price objective on TransAlta from C$26.00 to C$27.00 and gave the stock an “outperform” rating in a report on Wednesday, December 10th. TD Securities raised their target price on TransAlta from C$26.00 to C$27.00 and gave the company a “buy” rating in a research report on Wednesday, December 10th. Jefferies Financial Group lifted their target price on TransAlta from C$20.00 to C$27.00 and gave the company a “buy” rating in a research note on Tuesday, October 14th. Finally, Desjardins increased their price target 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. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$25.13.

TransAlta Price Performance

The stock has a 50 day moving average of C$19.81 and a two-hundred day moving average of C$18.62. The company has a debt-to-equity ratio of 229.66, a quick ratio of 0.62 and a current ratio of 0.74. The stock has a market cap of C$5.21 billion, a PE ratio of -27.44, a PEG ratio of -0.07 and a beta of 0.60.

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

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.