Wajax (TSE:WJX) Shares Break Above 50-Day Moving Average – What’s Next?

Wajax Co. (TSE:WJX) crossed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of C$34.23 and traded as high as C$35.42. Wajax shares last traded at C$35.24, with a volume of 127,344 shares traded.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on WJX shares. TD raised shares of Wajax from a “hold” rating to a “buy” rating and set a C$41.00 price target on the stock in a research note on Wednesday, November 4th. TD Securities upgraded shares of Wajax from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 4th. National Bank Financial raised their price objective on shares of Wajax from C$36.00 to C$42.00 and gave the company an “outperform” rating in a research note on Thursday, October 15th. Finally, Stifel Nicolaus set a C$45.00 target price on shares of Wajax and gave the stock a “buy” rating in a research report on Wednesday, September 30th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of C$38.67.

Wajax Stock Up 4.0%

The stock has a market capitalization of C$767.53 million, a PE ratio of 12.91, a P/E/G ratio of 0.50 and a beta of 0.19. The firm has a 50 day moving average of C$34.23 and a two-hundred day moving average of C$31.81. The company has a current ratio of 2.03, a quick ratio of 0.71 and a debt-to-equity ratio of 73.68.

Wajax (TSE:WJX) last issued its quarterly earnings data on Monday, November 2nd. The company reported C$0.59 earnings per share (EPS) for the quarter. The firm had revenue of C$477.80 million during the quarter. Wajax had a return on equity of 11.04% and a net margin of 2.96%. Equities research analysts anticipate that Wajax Co. will post 3.49 earnings per share for the current year.

Wajax Company Profile

Wajax Corp is a Canadian distributor of industrial components. The company’s core business is the sale of parts and service support of equipment, power systems, and industrial components through a network of branches in Canada. Most of its revenue is generated from the sale of equipment which includes machinery and components used for construction purposes and its industrial components find utility in businesses like mining, forestry, and material handling for other industrial purposes. It sells to leading manufacturer brands such as Hitachi, JCB, Bell, Hyster, Palfinger and other similar industries.