Wajax (TSE:WJX) Shares Break Above Two Hundred Day Moving Average – What’s Next?

Wajax Co. (TSE:WJX)’s stock price crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of C$31.75 and traded as high as C$36.29. Wajax shares last traded at C$36.29, with a volume of 35,316 shares.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. National Bank Financial lifted their target price on shares of Wajax from C$36.00 to C$42.00 and gave the stock an “outperform” rating in a research report on Thursday, October 15th. Scotiabank dropped their price target on shares of Wajax from C$37.00 to C$36.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 7th. Stifel Nicolaus set a C$45.00 price target on shares of Wajax and gave the company a “buy” rating in a research note on Wednesday, September 30th. Finally, TD cut their price target on shares of Wajax from C$35.00 to C$34.00 and set a “hold” rating on the stock in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of C$37.50.

Wajax Price Performance

The company has a fifty day moving average of C$33.00 and a 200 day moving average of C$31.78. The firm has a market capitalization of C$782.99 million, a P/E ratio of 12.23, a PEG ratio of 0.50 and a beta of 0.18. The company has a debt-to-equity ratio of 66.87, a current ratio of 1.92 and a quick ratio of 0.71.

Wajax (TSE:WJX) last released its quarterly earnings results on Thursday, August 6th. The company reported C$0.82 earnings per share (EPS) for the quarter. The firm had revenue of C$515.67 million during the quarter. Wajax had a net margin of 3.18% and a return on equity of 12.07%. Sell-side analysts predict that Wajax Co. will post 3.49 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.