Wajax (TSE:WJX) Shares Cross Above 200 Day Moving Average – What’s Next?

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$25.75 and traded as high as C$29.36. Wajax shares last traded at C$29.10, with a volume of 14,649 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. BMO Capital Markets upped their target price on shares of Wajax from C$26.00 to C$27.00 in a report on Wednesday, November 5th. Scotiabank boosted their price target on shares of Wajax from C$26.00 to C$27.00 in a research report on Wednesday, November 5th. National Bank Financial raised their price objective on shares of Wajax from C$25.00 to C$27.00 and gave the stock a “sector perform” rating in a report on Monday, December 15th. Finally, TD Securities lifted their target price on shares of Wajax from C$25.00 to C$28.00 in a research note on Wednesday, February 4th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of C$27.25.

Wajax Trading Up 0.5%

The company’s 50-day moving average is C$28.13 and its 200-day moving average is C$25.75. The company has a debt-to-equity ratio of 116.61, a quick ratio of 0.71 and a current ratio of 2.10. The firm has a market cap of C$632.81 million, a price-to-earnings ratio of 13.92, a P/E/G ratio of 0.50 and a beta of 0.49.

Wajax (TSE:WJX) last announced its earnings results on Monday, November 3rd. The company reported C$0.75 earnings per share for the quarter. Wajax had a net margin of 2.55% and a return on equity of 10.40%. The company had revenue of C$483.15 million during the quarter. On average, research analysts predict that Wajax Co. will post 3.4850136 earnings per share 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.