TransAlta (TSE:TA) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

TransAlta Co. (TSE:TA) (NYSE:TAC)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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.

Analysts Set New Price Targets

TA has been the subject of a number of analyst reports. TD set a C$26.00 price objective on shares of TransAlta and gave the stock a “buy” rating in a research report on Wednesday, June 10th. ATB Cormark Capital Markets set a C$28.00 target price on shares of TransAlta and gave the company an “outperform” rating in a report on Wednesday, June 10th. Royal Bank Of Canada set a C$24.00 price objective on shares of TransAlta and gave the company an “outperform” rating in a research report on Wednesday, June 10th. National Bank Financial lifted their price objective on TransAlta from C$22.00 to C$24.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Finally, Scotia set a C$27.00 target price on TransAlta and gave the company a “sector outperform” rating in a 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 given a Hold rating to the company. According to data from MarketBeat, TransAlta currently has an average rating of “Buy” and an average target price of C$25.00.

TransAlta Trading Down 1.9%

The firm has a market cap of C$5.99 billion, a price-to-earnings ratio of -25.25, a PEG ratio of -0.07 and a beta of 0.75. The company has a debt-to-equity ratio of 317.20, a quick ratio of 0.61 and a current ratio of 0.76. The business has a fifty day moving average of C$19.16 and a two-hundred day moving average of C$18.24.

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

Insiders Place Their Bets

In other news, insider Michael Politeski purchased 10,000 shares of the business’s stock in a transaction dated Friday, June 19th. The stock was acquired at an average price of C$19.58 per share, with a total value of C$195,800.00. Following the purchase, the insider directly owned 75,000 shares of the company’s stock, valued at C$1,468,500. This represents a 15.38% increase in their position. Also, insider Jane Nyla Fedoretz sold 10,000 shares of the business’s stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of C$17.45, for a total transaction of C$174,500.00. Following the completion of the sale, the insider owned 74,906 shares in the company, valued at C$1,307,109.70. This represents a 11.78% decrease in their ownership of the stock. In the last 90 days, insiders bought 30,450 shares of company stock valued at $557,548 and sold 25,000 shares valued at $445,000. Company 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.