Wajax (TSE:WJX) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Wajax Co. (TSE:WJX) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$28.13 and traded as high as C$32.66. Wajax shares last traded at C$32.64, with a volume of 56,946 shares traded.

Analyst Ratings Changes

WJX has been the subject of several recent research reports. BMO Capital Markets reduced their price target on Wajax from C$40.00 to C$34.00 and set a “market perform” rating for the company in a research report on Wednesday, March 4th. 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. Scotiabank upped their target price on Wajax from C$29.00 to C$34.00 and gave the company a “sector perform” rating in a research report on Wednesday, March 4th. Finally, TD Securities upped their target price on Wajax from C$28.00 to C$34.00 and gave the company a “hold” rating in a research report on Wednesday, March 4th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of C$34.75.

Wajax Stock Up 1.4%

The company has a 50-day moving average of C$31.45 and a 200-day moving average of C$28.19. The company has a market capitalization of C$722.18 million, a price-to-earnings ratio of 12.83, a price-to-earnings-growth ratio of 0.50 and a beta of 0.51. The company has a current ratio of 2.14, a quick ratio of 0.71 and a debt-to-equity ratio of 78.49.

Wajax (TSE:WJX) last announced its earnings results on Tuesday, March 3rd. The company reported C$0.71 earnings per share (EPS) for the quarter. Wajax had a return on equity of 10.91% and a net margin of 2.68%.The company had revenue of C$560.05 million for the quarter. On average, equities analysts predict 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. It sells to leading manufacturer brands such as Hitachi, JCB, Bell, Hyster, Palfinger and other similar industries.