Wajax (TSE:WJX) Share Price Passes Above 200 Day Moving Average – Here’s Why

Shares of Wajax Co. (TSE:WJX) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$24.81 and traded as high as C$28.66. Wajax shares last traded at C$28.06, with a volume of 53,184 shares traded.

Wall Street Analyst Weigh In

WJX has been the topic of several research reports. Scotiabank boosted their target price on Wajax from C$26.00 to C$27.00 in a research note on Wednesday, November 5th. BMO Capital Markets boosted their price objective on shares of Wajax from C$26.00 to C$27.00 in a research report on Wednesday, November 5th. Finally, National Bankshares raised their target price on shares of Wajax from C$25.00 to C$27.00 and gave the company a “sector perform” rating in a research report on Monday, December 15th. Three analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold” and an average target price of C$26.50.

Wajax Stock Up 1.6%

The firm has a market capitalization of C$619.76 million, a P/E ratio of 13.64, a PEG ratio of 0.50 and a beta of 0.67. The firm’s 50 day moving average is C$27.38 and its two-hundred day moving average is C$24.87. The company has a debt-to-equity ratio of 116.61, a current ratio of 2.10 and a quick ratio of 0.71.

Wajax (TSE:WJX) last posted its quarterly earnings results on Monday, November 3rd. The company reported C$0.75 earnings per share (EPS) for the quarter. Wajax had a net margin of 2.55% and a return on equity of 10.40%. The firm had revenue of C$483.15 million for the quarter. Research analysts predict that Wajax Co. will post 3.4850136 EPS for the current year.

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.