Wajax (TSE:WJX) Shares Cross Above 200 Day Moving Average – Here’s Why

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 trading hands.

Analyst Upgrades and Downgrades

WJX has been the topic of a number of analyst reports. BMO Capital Markets boosted their price objective on Wajax from C$26.00 to C$27.00 in a research note on Wednesday, November 5th. National Bankshares raised their price objective on shares of Wajax from C$25.00 to C$27.00 and gave the company a “sector perform” rating in a research note on Monday, December 15th. Finally, Scotiabank upped their price objective 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 MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of C$26.50.

Wajax Trading Down 1.1%

The stock’s fifty day simple moving average is C$27.88 and its 200-day simple moving average is C$25.40. The firm has a market cap of C$614.76 million, a PE ratio of 13.53, a PEG ratio of 0.50 and a beta of 0.67. The company has a debt-to-equity ratio of 116.61, a current ratio of 2.10 and a quick ratio of 0.71.

Wajax (TSE:WJX) last released its quarterly earnings results on Monday, November 3rd. The company reported C$0.75 earnings per share 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 during the quarter. On average, sell-side analysts forecast that Wajax Co. will post 3.4850136 earnings per share for the current 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.