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

Wajax Co. (TSE:WJX) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$27.48 and traded as high as C$32.19. Wajax shares last traded at C$31.90, with a volume of 51,529 shares.

Analysts Set New Price Targets

WJX has been the subject of a number of research reports. TD Securities increased their price target 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. National Bank Financial upgraded Wajax from a “hold” rating to an “outperform” rating and upped their price objective for the company from C$27.00 to C$37.00 in a report on Tuesday, March 3rd. Scotiabank raised their target price on Wajax from C$29.00 to C$34.00 and gave the company a “sector perform” rating in a research note on Wednesday, March 4th. Finally, BMO Capital Markets lowered their target price 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 analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of C$34.75.

Wajax Trading Up 0.5%

The firm has a market capitalization of C$695.99 million, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 0.50 and a beta of 0.66. The firm’s 50 day moving average is C$30.45 and its 200 day moving average is C$27.48. The company has a quick ratio of 0.71, a current ratio of 2.14 and a debt-to-equity ratio of 78.49.

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