Wajax (TSE:WJX) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Wajax Co. (TSE:WJX)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$27.14 and traded as high as C$32.70. Wajax shares last traded at C$32.59, with a volume of 37,109 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on WJX shares. BMO Capital Markets cut their price target on shares of Wajax from C$40.00 to C$34.00 and set a “market perform” rating on the stock in a research note on Wednesday, March 4th. National Bank Financial upgraded shares of Wajax from a “hold” rating to an “outperform” rating and upped their price objective for the company from C$27.00 to C$37.00 in a research note on Tuesday, March 3rd. Scotiabank raised their price objective on Wajax from C$29.00 to C$34.00 and gave the stock a “sector perform” rating in a report on Wednesday, March 4th. Finally, TD Securities lifted their target price on Wajax from C$28.00 to C$34.00 and gave the stock a “hold” rating in a research report on Wednesday, March 4th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Wajax currently has an average rating of “Hold” and a consensus target price of C$34.75.

Wajax Stock Performance

The company has a current ratio of 2.14, a quick ratio of 0.71 and a debt-to-equity ratio of 78.49. The stock has a market cap of C$708.70 million, a price-to-earnings ratio of 12.63, a PEG ratio of 0.50 and a beta of 0.66. The stock’s 50 day moving average is C$30.03 and its two-hundred day moving average is C$27.14.

Wajax (TSE:WJX) last announced its earnings results on Tuesday, March 3rd. The company reported C$0.71 EPS for the quarter. Wajax had a net margin of 2.68% and a return on equity of 10.91%. The business had revenue of C$560.05 million during the quarter. Analysts anticipate 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.