Wajax (TSE:WJX) Stock Breaks Below 50 Day Moving Average - What's Next?

Key Points

• Wajax shares fell below their 50-day moving average of C$33.71, trading as low as C$30.05 before last changing hands at C$32.87.
• Analyst views are mixed: MarketBeat reports a “Moderate Buy” consensus and a C$37.50 average price target, with recent targets ranging from C$34 to C$45.
• Wajax reported quarterly earnings of C$0.59 per share on revenue of C$477.8 million; analysts expect C$3.49 in EPS for the current fiscal year.

Wajax Co. (TSE:WJX - Get Free Report) passed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of C$33.71 and traded as low as C$30.05. Wajax shares last traded at C$32.87, with a volume of 305,510 shares trading hands.

Analyst Upgrades and Downgrades

WJX has been the subject of several recent analyst reports. Scotiabank decreased their price target on Wajax from C$37.00 to C$36.00 and set a "sector perform" rating for the company in a research note on Tuesday, July 7th. TD lowered their price objective on Wajax from C$35.00 to C$34.00 and set a "hold" rating on the stock in a report on Monday, August 10th. National Bank Financial raised their price objective on Wajax from C$36.00 to C$42.00 and gave the company an "outperform" rating in a research note on Thursday, October 15th. Finally, Stifel Nicolaus set a C$45.00 target price on Wajax and gave the stock a "buy" rating in a report on Wednesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Wajax presently has a consensus rating of "Moderate Buy" and a consensus target price of C$37.50.

Wajax Trading Down 2.6%

The company has a current ratio of 1.92, a quick ratio of 0.71 and a debt-to-equity ratio of 66.87. The company's fifty day moving average is C$33.71 and its 200-day moving average is C$31.64. The firm has a market capitalization of C$715.91 million, a P/E ratio of 11.18, a P/E/G ratio of 0.50 and a beta of 0.19.

Wajax (TSE:WJX - Get Free Report) last posted its earnings results on Monday, November 2nd. The company reported C$0.59 earnings per share (EPS) for the quarter. The business had revenue of C$477.80 million for the quarter. Wajax had a net margin of 3.18% and a return on equity of 12.07%. As a group, sell-side analysts anticipate that Wajax Co. will post 3.49 earnings per share for the current fiscal 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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