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

Wajax Co. (TSE:WJX) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$20.35 and traded as high as C$23.52. Wajax shares last traded at C$23.30, with a volume of 42,650 shares.

Wall Street Analyst Weigh In

WJX has been the topic of several analyst reports. Scotiabank upped their price target on Wajax from C$22.00 to C$23.50 and gave the company a “sector perform” rating in a research report on Wednesday, May 7th. National Bankshares decreased their target price on shares of Wajax from C$22.00 to C$20.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 9th. BMO Capital Markets increased their target price on shares of Wajax from C$20.00 to C$22.00 in a research note on Tuesday, May 6th. Finally, TD Securities downgraded shares of Wajax from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 27th.

Wajax Stock Down 1.0%

The company has a debt-to-equity ratio of 116.61, a current ratio of 2.10 and a quick ratio of 0.71. The company has a fifty day moving average price of C$20.44 and a 200 day moving average price of C$20.35. The company has a market cap of C$509.21 million, a PE ratio of 9.55, a price-to-earnings-growth ratio of 0.50 and a beta of 1.80.

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.