Wajax (TSE:WJX) Stock Price Breaks Above 200-Day Moving Average - Time to Sell?

Key Points

• Wajax shares broke above their 200-day moving average, reaching C$34.49 before closing at C$34.35, up 1.2% with 60,888 shares traded.
• Analyst sentiment remains cautious: the stock has an overall “Hold” consensus from five analysts, with a consensus price target of C$34.80. National Bank raised its target to C$36 and rated Wajax “outperform,” while Scotiabank and TD maintained more neutral ratings.
• 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. The company is a Canadian distributor of industrial equipment, components, and related services.

Shares of Wajax Co. (TSE:WJX - Get Free Report) passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of C$31.10 and traded as high as C$34.49. Wajax shares last traded at C$34.35, with a volume of 60,888 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on WJX shares. National Bank Financial increased their target price on shares of Wajax from C$34.00 to C$36.00 and gave the stock an "outperform" rating in a report on Monday, August 10th. Scotiabank reduced their price target on shares of Wajax from C$37.00 to C$36.00 and set a "sector perform" rating for the company in a report on Tuesday, July 7th. Finally, TD lowered their price target 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. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of C$34.80.

Wajax Trading Up 1.2%

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 stock has a market capitalization of C$748.14 million, a P/E ratio of 11.68, a price-to-earnings-growth ratio of 0.50 and a beta of 0.40. The company has a 50-day moving average price of C$31.40 and a 200 day moving average price of C$31.10.

Wajax (TSE:WJX - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported C$0.82 earnings per share (EPS) for the quarter. The company had revenue of C$515.67 million for the quarter. Wajax had a return on equity of 12.07% and a net margin of 3.18%. On average, research analysts forecast that Wajax Co. will post 3.4850136 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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