TransAlta (TSE:TA) Stock Passes Above 200 Day Moving Average – Here’s Why

TransAlta Co. (TSE:TA) (NYSE:TAC)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$17.63 and traded as high as C$19.90. TransAlta shares last traded at C$19.85, with a volume of 232,335 shares changing hands.

Analyst Upgrades and Downgrades

TA has been the topic of a number of recent research reports. Jefferies Financial Group increased their target price on TransAlta from C$20.00 to C$27.00 and gave the company a “buy” rating in a report on Tuesday, October 14th. ATB Capital upped their price target on shares of TransAlta from C$18.00 to C$20.00 and gave the company an “outperform” rating in a research report on Tuesday, August 5th. Scotiabank raised 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. Desjardins boosted their target price 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. Finally, Royal Bank Of Canada upped their target price on shares of TransAlta from C$20.00 to C$24.00 in a report on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, TransAlta presently has an average rating of “Buy” and a consensus price target of C$23.33.

TransAlta Trading Up 2.4%

The stock has a 50-day moving average price of C$21.50 and a two-hundred day moving average price of C$17.68. The stock has a market capitalization of C$6.03 billion, a PE ratio of -31.75, a PEG ratio of -0.07 and a beta of 0.74. The company has a debt-to-equity ratio of 229.66, a quick ratio of 0.62 and a current ratio of 0.74.

TransAlta (TSE:TA) (NYSE:TAC) last released its earnings results on Thursday, November 6th. The company reported C($0.20) EPS for the quarter. TransAlta had a return on equity of 12.03% and a net margin of 7.49%.The firm had revenue of C$615.00 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.