Wajax (TSE:WJX) Share Price Passes Above 200 Day Moving Average – Time to Sell?

Shares of Wajax Co. (TSE:WJX) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$25.36 and traded as high as C$28.62. Wajax shares last traded at C$28.59, with a volume of 22,765 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. BMO Capital Markets upped their target price on shares of Wajax from C$26.00 to C$27.00 in a research note on Wednesday, November 5th. National Bankshares increased their target price on Wajax from C$25.00 to C$27.00 and gave the stock a “sector perform” rating in a report on Monday, December 15th. Finally, Scotiabank raised their target price on Wajax from C$26.00 to C$27.00 in a research report on Wednesday, November 5th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of C$26.50.

Wajax Stock Performance

The company has a quick ratio of 0.71, a current ratio of 2.10 and a debt-to-equity ratio of 116.61. The stock has a market capitalization of C$621.72 million, a price-to-earnings ratio of 13.68, a price-to-earnings-growth ratio of 0.50 and a beta of 0.67. The stock’s 50-day simple moving average is C$27.85 and its 200 day simple moving average is C$25.36.

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