Wajax (TSE:WJX) Share Price Breaks Above Two Hundred Day Moving Average - What's Next?

Key Points

• Wajax shares broke above their 200-day moving average, reaching C$37.61 and closing at C$37.05, compared with the long-term average of C$31.54.
• Analyst sentiment is broadly positive but mixed, with a consensus rating of “Moderate Buy” and an average price target of C$36.50; targets range from C$34.00 to C$45.00.
• Wajax reported quarterly EPS of C$0.82 on revenue of C$515.67 million, with a 12.07% return on equity and a 3.18% net margin. Analysts expect full-year EPS of approximately C$3.49.

Wajax Co. (TSE:WJX - Get Free Report) passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of C$31.54 and traded as high as C$37.61. Wajax shares last traded at C$37.05, with a volume of 44,092 shares changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on WJX shares. TD reduced their target price on shares of Wajax from C$35.00 to C$34.00 and set a "hold" rating for the company in a research report on Monday, August 10th. Stifel Nicolaus set a C$45.00 price target on shares of Wajax and gave the company a "buy" rating in a research note on Wednesday, September 30th. Scotiabank lowered their price target on shares of 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. Finally, National Bank Financial lifted their price objective on shares of Wajax from C$34.00 to C$36.00 and gave the stock an "outperform" rating in a research note on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of C$36.50.

Wajax Trading Up 0.2%

The company has a market capitalization of C$806.95 million, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 0.50 and a beta of 0.18. The company has a debt-to-equity ratio of 66.87, a quick ratio of 0.71 and a current ratio of 1.92. The firm has a fifty day moving average price of C$32.27 and a 200-day moving average price of C$31.54.

Wajax (TSE:WJX - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported C$0.82 EPS for the quarter. Wajax had a return on equity of 12.07% and a net margin of 3.18%. The company had revenue of C$515.67 million for the quarter. As a group, equities analysts anticipate that Wajax Co. will post 3.49 EPS 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.

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