TransAlta (TSE:TA) Shares Cross Below Two Hundred Day Moving Average – What’s Next?

Shares of TransAlta Co. (TSE:TA) (NYSE:TAC) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$18.93 and traded as low as C$17.25. TransAlta shares last traded at C$17.46, with a volume of 1,292,577 shares.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TA shares. Desjardins increased their price objective on shares of TransAlta from C$16.50 to C$21.00 and gave the company a “hold” rating in a research report on Wednesday, October 22nd. ATB Capital raised their price target on TransAlta from C$26.00 to C$27.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 10th. National Bankshares upped their price objective on TransAlta from C$18.00 to C$22.00 and gave the company a “sector perform” rating in a research report on Wednesday, December 10th. CIBC raised their target price on TransAlta from C$25.00 to C$26.00 in a research report on Wednesday, December 17th. Finally, Natl Bk Canada lowered shares of TransAlta from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 3rd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$24.50.

TransAlta Trading Up 0.3%

The company has a current ratio of 0.74, a quick ratio of 0.62 and a debt-to-equity ratio of 229.66. The stock has a 50-day simple moving average of C$18.16 and a two-hundred day simple moving average of C$18.93. The firm has a market capitalization of C$5.18 billion, a P/E ratio of -27.28, a price-to-earnings-growth ratio of -0.07 and a beta of 0.60.

TransAlta (TSE:TA) (NYSE:TAC) last released its quarterly earnings data on Thursday, November 6th. The company reported C($0.02) earnings per share 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 during the quarter.

About TransAlta

TransAlta owns, operates and develops a diverse fleet of electrical power generation assets in Canada, the United States and Australia with a focus on long-term shareholder value. TransAlta provides municipalities, medium and large industries, businesses and utility customers with affordable, energy efficient and reliable power. Today, TransAlta is one of Canada’s largest producers of wind power and Alberta’s largest producer of thermal generation and hydro-electric power. For over 114 years, TransAlta has been a responsible operator and a proud member of the communities where we operate and where our employees work and live.