TransAlta (TSE:TA) Shares Cross Above 200-Day Moving Average - Time to Sell?

Key Points

• TransAlta Co. shares have recently crossed above their 200-day moving average, trading as high as C$17.25 with a last price of C$16.96, demonstrating positive market momentum.
• Analysts have mixed ratings on TransAlta, with one research report recommending a "hold" while others suggest "buy" ratings and varying target prices ranging from C$14.00 to C$20.00.
• The company operates a diverse range of power generation assets across Canada, the U.S., and Australia, primarily generating revenue from electricity and thermal energy sales.

TransAlta Co. (TSE:TA - Get Free Report) NYSE: TAC's stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$14.49 and traded as high as C$17.25. TransAlta shares last traded at C$16.96, with a volume of 1,541,235 shares.

Analysts Set New Price Targets

TA has been the topic of several research analyst reports. Royal Bank Of Canada dropped their target price on shares of TransAlta from C$23.00 to C$20.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. National Bankshares lowered their price target on shares of TransAlta from C$20.00 to C$16.00 and set an "outperform" rating on the stock in a research report on Thursday, May 8th. 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. Desjardins lowered their price target on shares of TransAlta from C$16.00 to C$14.00 and set a "hold" rating on the stock in a research report on Tuesday, May 6th. Finally, Jefferies Financial Group upgraded shares of TransAlta from a "hold" rating to a "buy" rating and boosted their price target for the stock from C$12.00 to C$20.00 in a research report on Thursday, June 12th. One analyst has rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, TransAlta presently has an average rating of "Buy" and an average price target of C$18.78.

TransAlta Stock Up 2.5%

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 market cap of C$5.13 billion, a price-to-earnings ratio of 24.35, a PEG ratio of -0.07 and a beta of 0.93. The firm's fifty day simple moving average is C$15.15 and its 200 day simple moving average is C$14.43.

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.