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

Shares of Wajax Co. (TSE:WJX) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$27.80 and traded as high as C$33.36. Wajax shares last traded at C$32.62, with a volume of 44,729 shares.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. National Bank Financial raised Wajax from a “hold” rating to an “outperform” rating and lifted their price objective for the stock from C$27.00 to C$37.00 in a report on Tuesday, March 3rd. BMO Capital Markets dropped their price objective on shares of 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. Scotiabank lifted their target price on shares of 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, TD Securities lifted their target price on shares of Wajax from C$28.00 to C$34.00 and gave the stock a “hold” rating in a research note on Wednesday, March 4th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of C$34.75.

Wajax Trading Up 0.7%

The company has a debt-to-equity ratio of 78.49, a quick ratio of 0.71 and a current ratio of 2.14. The stock has a market cap of C$711.70 million, a P/E ratio of 12.64, a P/E/G ratio of 0.50 and a beta of 0.66. The stock has a 50-day moving average price of C$30.88 and a 200-day moving average price of C$27.80.

Wajax (TSE:WJX) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported C$0.71 earnings per share for the quarter. The company 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%. On average, equities research analysts expect that Wajax Co. will post 3.4850136 EPS for the current year.

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.