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

Wajax Co. (TSE:WJX) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$30.66 and traded as high as C$34.74. Wajax shares last traded at C$34.63, with a volume of 43,936 shares changing hands.

Analyst Ratings Changes

A number of brokerages have recently weighed in on WJX. TD dropped their price objective on shares of Wajax from C$35.00 to C$33.00 and set a “hold” rating for the company in a research note on Wednesday, May 6th. National Bank Financial dropped their price target on 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, Scotiabank reduced their price objective on Wajax from C$37.00 to C$36.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 7th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of C$34.20.

Wajax Trading Up 2.1%

The company has a market cap of C$754.24 million, a PE ratio of 12.41, a price-to-earnings-growth ratio of 0.50 and a beta of 0.45. The business has a 50 day simple moving average of C$30.61 and a two-hundred day simple moving average of C$30.66. 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 released its earnings results on Monday, May 4th. The company reported C$0.65 earnings per share (EPS) for the quarter. Wajax had a net margin of 2.97% and a return on equity of 11.63%. The business had revenue of C$502.07 million for the quarter. On average, analysts forecast that Wajax Co. will post 3.4850136 EPS for the current fiscal year.

Insider Buying and Selling at Wajax

In related news, Director Jane Craighead acquired 1,100 shares of the stock in a transaction dated Tuesday, May 26th. The stock was bought at an average cost of C$28.84 per share, with a total value of C$31,724.00. Following the purchase, the director directly owned 11,900 shares of the company’s stock, valued at approximately C$343,196. This represents a 10.19% increase in their ownership of the stock. Also, Director Terrance Lloyd Mckibbon acquired 6,000 shares of the company’s stock in a transaction dated Wednesday, May 6th. The shares were purchased at an average price of C$29.86 per share, with a total value of C$179,160.00. Following the completion of the acquisition, the director owned 6,000 shares in the company, valued at approximately C$179,160. The trade was a ∞ increase in their ownership of the stock. Insiders have purchased a total of 18,153 shares of company stock worth $535,312 in the last quarter. 0.97% of the stock is owned by 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.