Wajax (TSE:WJX) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Wajax Co. (TSE:WJX) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$30.39 and traded as high as C$34.14. Wajax shares last traded at C$33.97, with a volume of 59,405 shares trading hands.

Analyst Ratings Changes

WJX has been the topic of several recent research reports. Scotiabank lowered their price objective on shares of Wajax from C$37.00 to C$36.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 7th. National Bank Financial cut their target price on shares of Wajax from C$37.00 to C$34.00 and set an “outperform” rating for the company in a research report on Wednesday, May 6th. Finally, TD reduced their target price on shares of Wajax from C$35.00 to C$33.00 and set a “hold” rating for the company in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of C$34.20.

Wajax Trading Up 1.4%

The stock has a fifty day moving average of C$29.95 and a 200 day moving average of C$30.39. The company has a market capitalization of C$739.87 million, a P/E ratio of 12.18, a PEG ratio of 0.50 and a beta of 0.45. The company has a debt-to-equity ratio of 72.41, a quick ratio of 0.71 and a current ratio of 1.88.

Wajax (TSE:WJX) last released its earnings results 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. As a group, equities research analysts anticipate that Wajax Co. will post 3.4850136 EPS for the current fiscal year.

Insider Transactions at Wajax

In related news, Director Thomas Malcolm Alford acquired 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The stock was bought at an average cost of C$29.15 per share, for a total transaction of C$145,750.00. Following the purchase, the director owned 5,000 shares in the company, valued at C$145,750. The trade was a ∞ increase in their position. Also, Director Jane Craighead acquired 1,100 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were bought at an average price of C$28.84 per share, with a total value of C$31,724.00. Following the completion of the purchase, the director owned 11,900 shares in the company, valued at C$343,196. This trade represents a 10.19% increase in their position. Insiders have purchased 18,153 shares of company stock valued at $535,312 over the last quarter. 0.97% of the stock is currently owned by company insiders.

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.