TransAlta (TSE:TA) Share Price Breaks Below 200-Day Moving Average – Here’s What Happened

Shares of TransAlta Co. (TSE:TA) (NYSE:TAC) crossed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of C$18.01 and traded as low as C$16.46. TransAlta shares last traded at C$16.76, with a volume of 960,030 shares traded.

Wall Street Analyst Weigh In

TA has been the subject of a number of research reports. Royal Bank Of Canada set a C$24.00 target price on shares of TransAlta and gave the stock an “outperform” rating in a report on Wednesday, June 10th. Scotia set a C$27.00 price target on TransAlta and gave the company a “sector outperform” rating in a research note on Wednesday, June 10th. Scotiabank raised TransAlta to a “strong-buy” rating in a report on Wednesday, June 10th. TD set a C$26.00 target price on TransAlta and gave the stock a “buy” rating in a report on Wednesday, June 10th. Finally, Canadian Imperial Bank of Commerce cut their price target on TransAlta from C$26.00 to C$24.50 in a research note on Tuesday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, TransAlta presently has a consensus rating of “Buy” and a consensus target price of C$24.85.

TransAlta Stock Performance

The stock has a market capitalization of C$5.49 billion, a P/E ratio of -55.97, a price-to-earnings-growth ratio of -0.07 and a beta of 0.69. The company has a current ratio of 0.84, a quick ratio of 0.61 and a debt-to-equity ratio of 238.01. The company has a 50-day moving average price of C$17.22 and a two-hundred day moving average price of C$18.01.

TransAlta (TSE:TA) (NYSE:TAC) last announced its earnings results on Friday, July 31st. The company reported C$0.18 EPS for the quarter. TransAlta had a negative return on equity of 1.50% and a negative net margin of 1.02%.The company had revenue of C$507.00 million for the quarter.

Insider Activity

In other TransAlta news, insider Michael Politeski purchased 10,000 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were purchased at an average cost of C$17.77 per share, for a total transaction of C$177,700.00. Following the acquisition, the insider owned 85,000 shares of the company’s stock, valued at approximately C$1,510,450. This represents a 13.33% increase in their ownership of the stock. Insiders own 0.21% of the company’s stock.

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.