Wajax (TSE:WJX) Stock Price Crosses Above 200-Day Moving Average – Should You Sell?

Wajax Co. (TSE:WJX) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$30.01 and traded as high as C$30.80. Wajax shares last traded at C$30.69, with a volume of 26,765 shares traded.

Wall Street Analyst Weigh In

Several analysts have commented on WJX shares. Scotiabank lowered their target price on shares of Wajax from C$38.00 to C$37.00 and set a “sector perform” rating for the company in a research note on Tuesday, May 5th. BMO Capital Markets decreased their price objective on Wajax from C$40.00 to C$34.00 and set a “market perform” rating on the stock in a report on Wednesday, March 4th. TD decreased their price objective on Wajax from C$35.00 to C$33.00 and set a “hold” rating on the stock in a report on Wednesday, May 6th. National Bank Financial lowered their price objective on Wajax from C$37.00 to C$34.00 and set an “outperform” rating for the company in a research report on Wednesday, May 6th. 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 note on Wednesday, March 4th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Wajax presently has a consensus rating of “Hold” and an average target price of C$34.40.

Wajax Price Performance

The company has a market capitalization of C$668.43 million, a PE ratio of 11.00, a PEG ratio of 0.50 and a beta of 0.54. The company has a current ratio of 1.88, a quick ratio of 0.71 and a debt-to-equity ratio of 72.41. The company’s 50 day moving average price is C$30.03 and its 200-day moving average price is C$30.01.

Wajax (TSE:WJX) last issued its earnings results on Monday, May 4th. The company reported C$0.65 earnings per share for the quarter. Wajax had a return on equity of 11.63% and a net margin of 2.97%.The business had revenue of C$502.07 million for the quarter. On average, sell-side analysts forecast that Wajax Co. will post 3.4850136 earnings per share for the current fiscal year.

Insider Transactions at Wajax

In other news, Director Jane Craighead acquired 1,100 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were bought at an average cost of C$28.84 per share, for a total transaction of C$31,724.00. Following the acquisition, the director directly owned 11,900 shares in the company, valued at C$343,196. This trade represents a 10.19% increase in their position. Also, Director Thomas Malcolm Alford acquired 5,000 shares of Wajax stock in a transaction dated Wednesday, May 6th. The stock was purchased at an average cost of C$29.15 per share, for a total transaction of C$145,750.00. Following the completion of the purchase, the director directly owned 5,000 shares in the company, valued at approximately C$145,750. This represents a ∞ increase in their ownership of the stock. Insiders have bought a total of 18,153 shares of company stock worth $535,312 in the last three months. 0.97% of the stock is currently owned by company insiders.

Wajax Company Profile

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.