Wajax (TSE:WJX) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Wajax Co. (TSE:WJX)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$28.88 and traded as high as C$32.81. Wajax shares last traded at C$32.38, with a volume of 102,803 shares.

Analyst Ratings Changes

WJX has been the topic of several recent analyst reports. BMO Capital Markets lowered their price target on Wajax from C$40.00 to C$34.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 4th. TD Securities boosted their price target 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. Scotiabank boosted their price target on Wajax from C$29.00 to C$34.00 and gave the stock a “sector perform” rating in a research report on Wednesday, March 4th. Finally, National Bank Financial raised Wajax from a “hold” rating to an “outperform” rating and boosted their price target for the stock from C$27.00 to C$37.00 in a research report on Tuesday, March 3rd. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Wajax presently has an average rating of “Hold” and a consensus price target of C$34.75.

Wajax Price Performance

The stock has a market cap of C$706.47 million, a price-to-earnings ratio of 12.55, a price-to-earnings-growth ratio of 0.50 and a beta of 0.51. The company has a 50-day simple moving average of C$32.13 and a two-hundred day simple moving average of C$28.88. The company has a debt-to-equity ratio of 78.49, a quick ratio of 0.71 and a current ratio of 2.14.

Wajax (TSE:WJX) last posted its earnings results on Tuesday, March 3rd. The company reported C$0.71 earnings per share for the quarter. The business had revenue of C$560.05 million for the quarter. Wajax had a return on equity of 10.91% and a net margin of 2.68%. As a group, equities research analysts forecast that Wajax Co. will post 3.4850136 EPS 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.