Wajax (TSE:WJX) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Wajax Co. (TSE:WJX)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$28.48 and traded as high as C$32.49. Wajax shares last traded at C$32.24, with a volume of 61,593 shares traded.

Wall Street Analyst Weigh In

WJX has been the topic of several research analyst reports. BMO Capital Markets reduced their price target on shares of Wajax from C$40.00 to C$34.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 4th. Scotiabank lifted their price objective on Wajax from C$29.00 to C$34.00 and gave the company a “sector perform” rating in a research report on Wednesday, March 4th. National Bank Financial upgraded Wajax from a “hold” rating to an “outperform” rating and raised their target price for the company from C$27.00 to C$37.00 in a research note on Tuesday, March 3rd. Finally, TD Securities lifted their price target on Wajax from C$28.00 to C$34.00 and gave the company a “hold” rating in a research report on Wednesday, March 4th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of C$34.75.

Wajax Price Performance

The company has a debt-to-equity ratio of 78.49, a current ratio of 2.14 and a quick ratio of 0.71. The firm’s 50 day moving average is C$31.79 and its 200 day moving average is C$28.51. The firm has a market cap of C$703.41 million, a P/E ratio of 12.50, a price-to-earnings-growth ratio of 0.50 and a beta of 0.51.

Wajax (TSE:WJX) last announced its quarterly earnings data on Tuesday, March 3rd. The company reported C$0.71 earnings per share for the quarter. Wajax had a net margin of 2.68% and a return on equity of 10.91%. The business had revenue of C$560.05 million for the quarter. As a group, analysts anticipate that Wajax Co. will post 3.4850136 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.