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

Wajax Co. (TSE:WJX) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$25.17 and traded as high as C$28.18. Wajax shares last traded at C$28.09, with a volume of 15,602 shares changing hands.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. BMO Capital Markets lifted their price objective on Wajax from C$26.00 to C$27.00 in a research report on Wednesday, November 5th. Scotiabank boosted their price target on Wajax from C$26.00 to C$27.00 in a report on Wednesday, November 5th. Finally, National Bankshares upped their price objective on Wajax from C$25.00 to C$27.00 and gave the company a “sector perform” rating in a research report on Monday, December 15th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Wajax has a consensus rating of “Hold” and a consensus target price of C$26.50.

Wajax Price Performance

The company’s 50 day simple moving average is C$27.68 and its 200 day simple moving average is C$25.17. The company has a current ratio of 2.10, a quick ratio of 0.71 and a debt-to-equity ratio of 116.61. The stock has a market capitalization of C$610.85 million, a PE ratio of 13.44, a PEG ratio of 0.50 and a beta of 0.67.

Wajax (TSE:WJX) last posted its quarterly earnings data on Monday, November 3rd. The company reported C$0.75 earnings per share (EPS) for the quarter. The business had revenue of C$483.15 million for the quarter. Wajax had a return on equity of 10.40% and a net margin of 2.55%. On average, equities analysts anticipate that Wajax Co. will post 3.4850136 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.