TransAlta (TSE:TA) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

TransAlta Co. (TSE:TA) (NYSE:TAC)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$18.02 and traded as high as C$19.57. TransAlta shares last traded at C$19.43, with a volume of 1,942,692 shares traded.

Analyst Ratings Changes

A number of equities analysts have recently commented on TA shares. Desjardins raised their price target on TransAlta from C$18.00 to C$18.50 and gave the stock a “hold” rating in a report on Wednesday, June 10th. TD set a C$26.00 price objective on TransAlta and gave the company a “buy” rating in a research note on Wednesday, June 10th. National Bank Financial increased their price objective on TransAlta from C$22.00 to C$24.00 and gave the stock an “outperform” rating in a report on Monday, June 1st. Scotia set a C$27.00 target price on TransAlta and gave the stock a “sector outperform” rating in a research note on Wednesday, June 10th. Finally, Royal Bank Of Canada set a C$24.00 target price on TransAlta and gave the company an “outperform” rating in a report on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, TransAlta has a consensus rating of “Buy” and an average target price of C$24.95.

TransAlta Stock Up 1.4%

The company has a current ratio of 0.76, a quick ratio of 0.61 and a debt-to-equity ratio of 317.20. The firm has a market cap of C$6.14 billion, a P/E ratio of -25.91, a price-to-earnings-growth ratio of -0.07 and a beta of 0.69. The stock’s fifty day moving average is C$18.15 and its two-hundred day moving average is C$18.02.

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

Insider Buying and Selling

In related news, insider Jane Nyla Fedoretz sold 10,000 shares of the stock in a transaction 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 sale, the insider owned 49,906 shares in the company, valued at approximately C$910,784.50. This trade represents 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 5th. The shares were acquired at an average cost of C$18.15 per share, with a total value of C$181,500.00. Following the purchase, the insider directly owned 65,000 shares of the company’s stock, valued at C$1,179,750. This trade represents a 18.18% increase in their position. Over the last quarter, insiders have acquired 20,450 shares of company stock worth $361,748 and have sold 90,953 shares worth $1,620,109. 0.21% of the stock is currently owned by company 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.