TransAlta (TSE:TA) Share Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• TransAlta's share price has crossed above its 200-day moving average, trading at C$17.43, above the average of C$14.51.
• Analysts have significantly raised their price targets for TransAlta, with estimates ranging from C$20.00 to C$19.22 as the consensus target price.
• The company has a market capitalization of C$5.17 billion and operates a diverse portfolio of electrical power generation assets in Canada, the U.S., and Australia.

TransAlta Co. (TSE:TA - Get Free Report) 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$14.51 and traded as high as C$17.69. TransAlta shares last traded at C$17.43, with a volume of 818,960 shares.

Analyst Ratings Changes

TA has been the subject of a number of analyst reports. ATB Capital upped their price target on 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 upgraded TransAlta from a "hold" rating to a "strong-buy" rating and upped their target price for the company from C$16.00 to C$20.00 in a report on Friday, July 18th. National Bankshares lifted their price target on TransAlta from C$16.00 to C$17.00 and gave the stock an "outperform" rating in a report on Tuesday, August 5th. CIBC boosted their price target on shares of TransAlta from C$18.50 to C$20.00 in a research report on Thursday, July 10th. Finally, Jefferies Financial Group raised shares of TransAlta from a "hold" rating to a "buy" rating and upped their price objective for the company from C$12.00 to C$20.00 in a report on Thursday, June 12th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of C$19.22.

TransAlta Trading Up 0.8%

The business has a fifty day moving average price of C$16.80 and a two-hundred day moving average price of C$14.56. 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 firm has a market capitalization of C$5.31 billion, a PE ratio of -33.17, a PEG ratio of -0.07 and a beta of 0.65.

TransAlta Company Profile

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.