TransAlta (TSE:TA) Stock Passes Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• TransAlta's stock price recently crossed above its 200-day moving average, trading at C$17.11 while the average is C$14.33, indicating a potential upward trend.
• Analysts have varied opinions on TransAlta, with price targets ranging from C$14.00 to C$20.00 and a consensus rating of "Buy".
• The company operates a diverse power generation portfolio in Canada, the U.S., and Australia, comprising hydro, wind, solar, and gas assets.

TransAlta Co. (TSE:TA - Get Free Report) NYSE: TAC shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$14.33 and traded as high as C$17.42. TransAlta shares last traded at C$17.11, with a volume of 1,194,021 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on TA shares. CIBC lifted their price target on TransAlta from C$18.50 to C$20.00 in a research note on Thursday, July 10th. TD Securities lifted their price target on TransAlta from C$19.00 to C$20.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Royal Bank Of Canada dropped their price target on TransAlta from C$23.00 to C$20.00 and set an "outperform" rating on the stock in a research note on Thursday, May 8th. 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 research note on Tuesday, August 5th. Finally, Desjardins lowered their target price on TransAlta from C$16.00 to C$14.00 and set a "hold" rating on the stock in a research note on Tuesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, TransAlta presently has an average rating of "Buy" and an average target price of C$19.22.

TransAlta Trading Down 1.7%

The firm has a market capitalization of C$5.00 billion, a price-to-earnings ratio of 23.72, a price-to-earnings-growth ratio of -0.07 and a beta of 0.93. 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 company has a fifty day moving average price of C$16.12 and a 200-day moving average price of C$14.36.

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.