Wajax (TSE:WJX) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

Wajax Co. (TSE:WJX)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$23.49 and traded as high as C$27.00. Wajax shares last traded at C$26.59, with a volume of 57,133 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on WJX shares. TD Securities lifted their price objective on shares of Wajax from C$24.00 to C$25.00 and gave the company a “hold” rating in a research note on Monday, August 11th. Scotiabank lifted their price target on shares of Wajax from C$26.00 to C$27.00 in a research report on Wednesday, November 5th. Finally, BMO Capital Markets increased their price objective on Wajax from C$26.00 to C$27.00 in a research report on Wednesday, November 5th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of C$24.75.

Wajax Stock Performance

The company has a current ratio of 2.10, a quick ratio of 0.71 and a debt-to-equity ratio of 116.61. The firm has a market capitalization of C$586.05 million, a price-to-earnings ratio of 12.89, a PEG ratio of 0.50 and a beta of 0.71. The stock has a fifty day moving average price of C$24.56 and a 200-day moving average price of C$23.58.

Wajax (TSE:WJX) last issued its quarterly earnings data on Monday, November 3rd. The company reported C$0.75 earnings per share (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 during the quarter. As a group, 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.