Wajax (TSE:WJX) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Wajax Co. (TSE:WJX) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$29.81 and traded as high as C$30.16. Wajax shares last traded at C$29.00, with a volume of 60,855 shares.

Analysts Set New Price Targets

A number of analysts have recently commented on WJX shares. Scotiabank cut their target price on Wajax from C$38.00 to C$37.00 and set a “sector perform” rating on the stock in a research report on Tuesday, May 5th. TD Securities lifted their target price on Wajax from C$28.00 to C$34.00 and gave the stock a “hold” rating in a research report on Wednesday, March 4th. National Bank Financial cut their target price on Wajax from C$37.00 to C$34.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 6th. BMO Capital Markets cut their target price on Wajax from C$40.00 to C$34.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 4th. Finally, TD cut their target price on Wajax from C$35.00 to C$33.00 and set a “hold” rating on the stock in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of C$34.40.

Wajax Price Performance

The stock has a fifty day simple moving average of C$30.62 and a two-hundred day simple moving average of C$29.81. The company has a market cap of C$631.62 million, a PE ratio of 10.39, a price-to-earnings-growth ratio of 0.50 and a beta of 0.54. The company has a current ratio of 1.88, a quick ratio of 0.71 and a debt-to-equity ratio of 72.41.

Wajax (TSE:WJX) last announced its quarterly earnings data on Monday, May 4th. The company reported C$0.65 earnings per share for the quarter. Wajax had a return on equity of 11.63% and a net margin of 2.97%.The company had revenue of C$502.07 million for the quarter. On average, equities analysts predict that Wajax Co. will post 3.4850136 EPS for the current fiscal year.

Insider Transactions at Wajax

In other news, Director Terrance Lloyd Mckibbon purchased 6,000 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The shares were acquired at an average price of C$29.86 per share, with a total value of C$179,160.00. Following the purchase, the director directly owned 6,000 shares of the company’s stock, valued at C$179,160. The trade was a ∞ increase in their ownership of the stock. Also, Director Thomas Malcolm Alford purchased 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The shares were purchased at an average cost of C$29.15 per share, for a total transaction of C$145,750.00. Following the purchase, the director directly owned 5,000 shares in the company, valued at approximately C$145,750. This represents a ∞ increase in their ownership of the stock. Insiders have bought 18,153 shares of company stock valued at $535,312 in the last quarter. 0.97% of the stock is currently owned by corporate insiders.

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.