Wajax (TSE:WJX) Stock Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Wajax Co. (TSE:WJX)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$29.90 and traded as high as C$30.28. Wajax shares last traded at C$30.25, with a volume of 42,516 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on WJX shares. BMO Capital Markets cut their price objective on shares of Wajax from C$40.00 to C$34.00 and set a “market perform” rating for the company in a research report on Wednesday, March 4th. Scotiabank decreased their target price on Wajax from C$38.00 to C$37.00 and set a “sector perform” rating on the stock in a research report on Tuesday, May 5th. TD lowered their price target on Wajax from C$35.00 to C$33.00 and set a “hold” rating on the stock in a research note on Wednesday, May 6th. National Bank Financial lowered their price target on Wajax from C$37.00 to C$34.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 6th. Finally, TD Securities upped their price target on Wajax from C$28.00 to C$34.00 and gave the company a “hold” rating in a report on Wednesday, March 4th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of C$34.40.

Wajax Price Performance

The company has a debt-to-equity ratio of 72.41, a current ratio of 1.88 and a quick ratio of 0.71. The stock’s 50 day simple moving average is C$30.26 and its two-hundred day simple moving average is C$29.90. The stock has a market cap of C$662.77 million, a price-to-earnings ratio of 10.91, a P/E/G ratio of 0.50 and a beta of 0.54.

Wajax (TSE:WJX) last announced its quarterly earnings results on Monday, May 4th. The company reported C$0.65 earnings per share (EPS) for the quarter. Wajax had a net margin of 2.97% and a return on equity of 11.63%. The firm had revenue of C$502.07 million for the quarter. On average, analysts forecast that Wajax Co. will post 3.4850136 earnings per share for the current fiscal year.

Insider Activity

In other Wajax news, Director Terrance Lloyd Mckibbon purchased 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The stock was purchased at an average price of C$29.86 per share, with a total value of C$179,160.00. Following the completion of the transaction, the director directly owned 6,000 shares of the company’s stock, valued at approximately C$179,160. This trade represents a ? increase in their position. Also, Director Thomas Malcolm Alford purchased 5,000 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were acquired at an average price of C$29.15 per share, with a total value of C$145,750.00. Following the purchase, the director owned 5,000 shares of the company’s stock, valued at approximately C$145,750. This trade represents a ? increase in their ownership of the stock. In the last three months, insiders have acquired 18,153 shares of company stock worth $535,312. Corporate insiders own 0.97% of the company’s stock.

About Wajax

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.