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

Key Points

• TransAlta Co. shares traded above their 200-day moving average of C$14.64, reaching a high of C$18.91, with the latest trading price at C$18.83.
• Multiple analysts have raised their price targets for TransAlta, with TD Securities and CIBC both setting targets at C$20.00, reflecting a bullish sentiment towards the stock.
• TransAlta operates a diverse portfolio of power generation assets across Canada, the U.S., and Australia, with a market cap of C$5.58 billion and a debt-to-equity ratio of 229.66.

Shares of TransAlta Co. (TSE:TA - Get Free Report) NYSE: TAC passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$14.64 and traded as high as C$18.91. TransAlta shares last traded at C$18.83, with a volume of 2,298,637 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. CIBC upped their target price on TransAlta from C$18.50 to C$20.00 in a report on Thursday, July 10th. 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. ATB Capital increased their price objective on TransAlta from C$18.00 to C$20.00 and gave the stock an "outperform" rating in a report on Tuesday, August 5th. National Bankshares increased their price objective on TransAlta from C$16.00 to C$17.00 and gave the stock an "outperform" rating in a report on Tuesday, August 5th. Finally, Jefferies Financial Group upgraded TransAlta from a "hold" rating to a "buy" rating and increased their price objective for the stock from C$12.00 to C$20.00 in a report on Thursday, June 12th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, TransAlta currently has an average rating of "Buy" and an average price target of C$19.22.

TransAlta Trading Down 1.0%

The company has a market cap of C$5.62 billion, a PE ratio of -35.09, a price-to-earnings-growth ratio of -0.07 and a beta of 0.65. The business has a 50 day simple moving average of C$17.07 and a two-hundred day simple moving average of C$14.69. The company has a current ratio of 0.74, a quick ratio of 0.62 and a debt-to-equity ratio of 229.66.

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.