Wajax (TSE:WJX) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Wajax Co. (TSE:WJX)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$25.17 and traded as high as C$28.18. Wajax shares last traded at C$28.09, with a volume of 15,602 shares.

Analysts Set New Price Targets

A number of brokerages have weighed in on WJX. Scotiabank lifted their price objective on Wajax from C$26.00 to C$27.00 in a report on Wednesday, November 5th. BMO Capital Markets upped their price objective on Wajax from C$26.00 to C$27.00 in a report on Wednesday, November 5th. Finally, National Bankshares raised their target price on Wajax from C$25.00 to C$27.00 and gave the company a “sector perform” rating in a report on Monday, December 15th. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of C$26.50.

Wajax Stock Up 0.6%

The firm has a 50 day moving average of C$27.68 and a two-hundred day moving average of C$25.17. The stock has a market capitalization of C$610.85 million, a PE ratio of 13.44, a P/E/G ratio of 0.50 and a beta of 0.67. The company has a current ratio of 2.10, a quick ratio of 0.71 and a debt-to-equity ratio of 116.61.

Wajax (TSE:WJX) last posted its earnings results on Monday, November 3rd. The company reported C$0.75 EPS for the quarter. Wajax had a return on equity of 10.40% and a net margin of 2.55%.The company had revenue of C$483.15 million for the quarter. Equities research 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.