Wajax (TSE:WJX) Stock Price Breaks Above Fifty Day Moving Average – What’s Next?

Wajax Co. (TSE:WJX) crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of C$34.23 and traded as high as C$35.42. Wajax shares last traded at C$35.24, with a volume of 127,344 shares.

Analysts Set New Price Targets

WJX has been the topic of a number of recent research reports. TD Securities raised shares of Wajax from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 4th. National Bank Financial raised their price target on Wajax from C$36.00 to C$42.00 and gave the stock an “outperform” rating in a research report on Thursday, October 15th. TD raised Wajax from a “hold” rating to a “buy” rating and set a C$41.00 price target for the company in a research note on Wednesday, November 4th. Finally, Stifel Nicolaus set a C$45.00 price target on Wajax and gave the company a “buy” rating in a research note on Wednesday, September 30th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of C$38.67.

Wajax Price Performance

The company’s 50-day moving average is C$34.51 and its 200-day moving average is C$31.89. The firm has a market cap of C$805.33 million, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 0.50 and a beta of 0.19. The company has a current ratio of 2.03, a quick ratio of 0.71 and a debt-to-equity ratio of 73.68.

Wajax (TSE:WJX) last posted its quarterly earnings results on Monday, November 2nd. The company reported C$0.59 EPS for the quarter. The company had revenue of C$477.80 million during the quarter. Wajax had a return on equity of 11.04% and a net margin of 2.96%. Equities research analysts predict that Wajax Co. will post 3.49 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.