TransAlta (TSE:TA) Stock Price Passes Above 200-Day Moving Average - Here's What Happened

Key Points

• TransAlta shares crossed above their 200-day moving average, reaching C$19.27 before closing at C$18.94, compared with a 200-day average of C$18.24.
• Analysts remain broadly positive, with the stock carrying an average “Buy” rating and a consensus price target of C$25.00. Individual targets range from C$19.00 to C$28.00.
• The company reported C$560 million in quarterly revenue and C$0.06 in earnings per share, but continues to show financial pressure, including a negative net margin of 7.73% and debt-to-equity ratio of 317.20.

TransAlta Co. (TSE:TA - Get Free Report) NYSE: TAC crossed above its 200-day moving average during trading on Monday . The stock has a 200-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.

Analysts Set New Price Targets

Several research analysts have recently issued reports on TA shares. Scotiabank raised TransAlta to a "strong-buy" rating in a research report on Wednesday, June 10th. TD set a C$26.00 target price on TransAlta and gave the stock a "buy" rating in a research note on Wednesday, June 10th. Desjardins upped their price target on TransAlta from C$18.50 to C$19.00 and gave the company a "hold" rating in a report on Friday, July 3rd. Royal Bank Of Canada set a C$24.00 price target on shares of TransAlta and gave the company an "outperform" rating in a research note on Wednesday, June 10th. Finally, ATB Cormark Capital Markets set a C$28.00 price objective on shares of TransAlta and gave the stock an "outperform" rating in a report on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, TransAlta presently has an average rating of "Buy" and an average target price of C$25.00.

TransAlta Stock Performance

The company has a quick ratio of 0.61, a current ratio of 0.76 and a debt-to-equity ratio of 317.20. The firm has a 50-day simple moving average of C$19.16 and a 200 day simple moving average of C$18.24. The company has a market cap of C$5.99 billion, a price-to-earnings ratio of -25.25, a price-to-earnings-growth ratio of -0.07 and a beta of 0.75.

TransAlta (TSE:TA - Get Free Report) NYSE: TAC last posted its quarterly earnings data on Wednesday, May 6th. The company reported C$0.06 earnings per share for the quarter. The business 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 TransAlta news, insider Jane Nyla Fedoretz sold 10,000 shares of the firm's stock in a transaction on Thursday, May 21st. The shares were sold at an average price of C$18.25, for a total transaction of C$182,500.00. Following the transaction, the insider directly owned 49,906 shares of the company's stock, valued at approximately C$910,784.50. This trade represents a 16.69% decrease in their position. Also, insider Michael Politeski acquired 10,000 shares of the stock in a transaction on Friday, June 19th. The shares were acquired at an average cost of C$19.58 per share, for a total transaction of C$195,800.00. Following the completion of the transaction, the insider directly owned 75,000 shares in the company, valued at C$1,468,500. The trade was a 15.38% increase in their position. In the last quarter, insiders have purchased 30,450 shares of company stock valued at $557,548 and have sold 25,000 shares valued at $445,000. 0.21% of the stock is owned by corporate insiders.

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.

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