Wajax (TSE:WJX) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Wajax Co. (TSE:WJX) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$21.62 and traded as high as C$24.20. Wajax shares last traded at C$24.20, with a volume of 18,598 shares trading hands.

Analysts Set New Price Targets

WJX has been the topic of a number of research reports. TD Securities upped their target price on shares of Wajax from C$24.00 to C$25.00 and gave the stock a “hold” rating in a research report on Monday, August 11th. BMO Capital Markets upped their price objective on Wajax from C$22.00 to C$25.00 in a report on Tuesday, July 22nd. Three research analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of C$23.38.

Wajax Price Performance

The firm has a market capitalization of C$526.25 million, a price-to-earnings ratio of 14.85, a price-to-earnings-growth ratio of 0.50 and a beta of 0.79. The company has a quick ratio of 0.71, a current ratio of 2.10 and a debt-to-equity ratio of 116.61. The company’s fifty day moving average is C$23.54 and its two-hundred day moving average is C$21.62.

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.