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

Wajax Co. (TSE:WJX)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$25.75 and traded as high as C$29.36. Wajax shares last traded at C$29.10, with a volume of 14,649 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on WJX. National Bank Financial raised their price target on shares of Wajax from C$25.00 to C$27.00 and gave the stock a “sector perform” rating in a research report on Monday, December 15th. BMO Capital Markets increased their target price on shares of Wajax from C$26.00 to C$27.00 in a research note on Wednesday, November 5th. TD Securities boosted their price target on Wajax from C$25.00 to C$28.00 in a research note on Wednesday, February 4th. Finally, Scotiabank upped their price target on Wajax from C$26.00 to C$27.00 in a report on Wednesday, November 5th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Wajax has a consensus rating of “Hold” and an average target price of C$27.25.

Wajax Stock Performance

The firm has a market capitalization of C$632.81 million, a price-to-earnings ratio of 13.92, a price-to-earnings-growth ratio of 0.50 and a beta of 0.49. The firm’s 50-day moving average price is C$28.13 and its two-hundred day moving average price is C$25.75. The company has a debt-to-equity ratio of 116.61, a quick ratio of 0.71 and a current ratio of 2.10.

Wajax (TSE:WJX) last announced its quarterly earnings results on Monday, November 3rd. The company reported C$0.75 EPS for the quarter. The firm had revenue of C$483.15 million during the quarter. Wajax had a net margin of 2.55% and a return on equity of 10.40%. Sell-side analysts predict 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.