TransAlta (TSE:TA) Shares Cross Below 200-Day Moving Average – What’s Next?

TransAlta Co. (TSE:TA) (NYSE:TAC) shares crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$19.15 and traded as low as C$15.62. TransAlta shares last traded at C$16.51, with a volume of 2,390,874 shares.

Analysts Set New Price Targets

A number of analysts have recently weighed in on TA shares. ATB Cormark Capital Markets upped their price target on shares of 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 boosted their price objective on shares of TransAlta from C$26.00 to C$27.00 and gave the company a “buy” rating in a research report on Wednesday, December 10th. Desjardins cut their target price on TransAlta from C$19.00 to C$18.00 and set a “hold” rating for the company in a research note on Tuesday, February 10th. National Bank Financial raised their target price on TransAlta from C$18.00 to C$22.00 and gave the company a “sector perform” rating in a report on Wednesday, December 10th. Finally, Jefferies Financial Group reduced their target price on TransAlta from C$27.00 to C$22.00 in a report on Wednesday, January 21st. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, TransAlta has a consensus rating of “Moderate Buy” and a consensus price target of C$24.13.

TransAlta Stock Up 1.8%

The stock has a 50 day moving average price of C$17.70 and a 200 day moving average price of C$19.15. The stock has a market capitalization of C$4.90 billion, a price-to-earnings ratio of -25.80, a price-to-earnings-growth ratio of -0.07 and a beta of 0.49. The company has a quick ratio of 0.62, a current ratio of 0.73 and a debt-to-equity ratio of 320.51.

TransAlta (TSE:TA) (NYSE:TAC) last released its quarterly earnings results on Friday, February 27th. The company reported C($0.06) earnings per share for the quarter. The firm had revenue of C$712.00 million for the quarter. TransAlta had a negative return on equity of 8.84% and a negative net margin of 5.74%.

Insiders Place Their Bets

In other TransAlta news, insider Jane Nyla Fedoretz sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of C$17.46, for a total transaction of C$87,300.00. Following the sale, the insider directly owned 113,953 shares of the company’s stock, valued at C$1,989,619.38. The trade was a 4.20% decrease in their position. 0.21% of the stock is owned by insiders.

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.