TransAlta (TSE:TA) Share Price Passes Below 200 Day Moving Average – Here’s What Happened

TransAlta Co. (TSE:TA) (NYSE:TAC)’s share price 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.

Analyst Ratings Changes

TA has been the subject of several recent research reports. Desjardins boosted their price target on TransAlta from C$16.50 to C$21.00 and gave the stock a “hold” rating in a research report on Wednesday, October 22nd. Jefferies Financial Group decreased their price target on shares of TransAlta from C$27.00 to C$22.00 in a research report on Wednesday, January 21st. Scotiabank lifted their price objective on shares of TransAlta from C$23.00 to C$27.00 and gave the stock an “outperform” rating in a research report on Monday, October 20th. ATB Capital raised their price objective on TransAlta from C$26.00 to C$27.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 10th. Finally, Royal Bank Of Canada increased their price target on TransAlta from C$20.00 to C$24.00 in a research note on Monday, November 10th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$24.50.

TransAlta Stock 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 business’s 50-day simple moving average is C$18.16 and its 200-day simple moving average is C$18.93. The company has a market capitalization of C$5.18 billion, a PE 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. The business had revenue of C$674.00 million during the quarter. TransAlta had a return on equity of 12.03% and a net margin of 7.49%.

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.