TransAlta (TSE:TA) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

TransAlta Co. (TSE:TA) (NYSE:TAC)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$18.24 and traded as high as C$19.27. TransAlta shares last traded at C$18.94, with a volume of 1,933,960 shares changing hands.

Analyst Ratings Changes

TA has been the topic of several research analyst reports. Scotia set a C$27.00 price target on TransAlta and gave the company a “sector outperform” rating in a report on Wednesday, June 10th. Scotiabank raised TransAlta to a “strong-buy” rating in a report on Wednesday, June 10th. ATB Cormark Capital Markets set a C$28.00 price objective on TransAlta and gave the company an “outperform” rating in a research report on Wednesday, June 10th. Desjardins increased their target price on TransAlta from C$18.50 to C$19.00 and gave the company a “hold” rating in a report on Friday, July 3rd. Finally, Royal Bank Of Canada set a C$24.00 target price on TransAlta and gave the stock an “outperform” rating in a research report on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of C$25.00.

TransAlta Stock Performance

The stock has a market capitalization of C$5.54 billion, a P/E ratio of -23.36, a P/E/G ratio of -0.07 and a beta of 0.75. The business’s fifty day moving average price is C$19.17 and its two-hundred day moving average price is C$18.24. The company has a debt-to-equity ratio of 317.20, a quick ratio of 0.61 and a current ratio of 0.76.

TransAlta (TSE:TA) (NYSE:TAC) last released its earnings results on Wednesday, May 6th. The company reported C$0.06 EPS for the quarter. TransAlta had a negative return on equity of 11.56% and a negative net margin of 7.73%.The firm had revenue of C$560.00 million for the quarter.

Insider Activity at TransAlta

In related news, insider Jane Nyla Fedoretz sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of C$18.25, for a total value of C$182,500.00. Following the completion of the sale, the insider owned 49,906 shares in the company, valued at approximately C$910,784.50. The trade was a 16.69% decrease in their ownership of the stock. Also, insider Michael Politeski acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 19th. The stock was purchased at an average cost of C$19.58 per share, for a total transaction of C$195,800.00. Following the purchase, the insider owned 75,000 shares of the company’s stock, valued at C$1,468,500. This represents a 15.38% increase in their ownership of the stock. In the last ninety days, insiders have bought 30,450 shares of company stock valued at $557,548 and have sold 25,000 shares valued at $445,000. Insiders own 0.21% of the company’s stock.

TransAlta Company Profile

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.