Wajax (TSE:WJX) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

Wajax Co. (TSE:WJX)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$25.36 and traded as high as C$28.62. Wajax shares last traded at C$28.59, with a volume of 22,765 shares traded.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. BMO Capital Markets boosted their price objective on shares of Wajax from C$26.00 to C$27.00 in a research note on Wednesday, November 5th. Scotiabank upped their price target on shares of Wajax from C$26.00 to C$27.00 in a report on Wednesday, November 5th. Finally, National Bankshares raised their price target 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 equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of C$26.50.

Wajax Price Performance

The company has a quick ratio of 0.71, a current ratio of 2.10 and a debt-to-equity ratio of 116.61. The stock’s 50-day moving average price is C$27.85 and its 200 day moving average price is C$25.36. The firm has a market cap of C$621.72 million, a price-to-earnings ratio of 13.68, a price-to-earnings-growth ratio of 0.50 and a beta of 0.67.

Wajax (TSE:WJX) last released its earnings results on Monday, November 3rd. The company reported C$0.75 earnings per share for the quarter. Wajax had a return on equity of 10.40% and a net margin of 2.55%.The business had revenue of C$483.15 million for the quarter. Equities research analysts predict 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.