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 Monday . The stock has a 200-day moving average of C$27.14 and traded as high as C$32.70. Wajax shares last traded at C$32.59, with a volume of 37,109 shares traded.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. TD Securities boosted their price objective on shares of Wajax from C$28.00 to C$34.00 and gave the company a “hold” rating in a research note on Wednesday, March 4th. National Bank Financial raised Wajax from a “hold” rating to an “outperform” rating and boosted their price target for the company from C$27.00 to C$37.00 in a research report on Tuesday, March 3rd. Scotiabank upped their price target on Wajax from C$29.00 to C$34.00 and gave the stock a “sector perform” rating in a research note on Wednesday, March 4th. Finally, BMO Capital Markets cut 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. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of C$34.75.

Wajax Stock Performance

The company has a current ratio of 2.14, a quick ratio of 0.71 and a debt-to-equity ratio of 78.49. The firm has a market cap of C$706.31 million, a PE ratio of 12.59, a P/E/G ratio of 0.50 and a beta of 0.66. The stock’s 50 day moving average price is C$30.20 and its 200 day moving average price is C$27.24.

Wajax (TSE:WJX) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported C$0.71 earnings per share for the quarter. Wajax had a net margin of 2.68% and a return on equity of 10.91%. The firm had revenue of C$560.05 million during the quarter. As a group, equities analysts forecast 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.