Wajax (TSE:WJX) Share Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Wajax Co. (TSE:WJX) shares surpassed their 200-day moving average of C$21.62, closing at C$24.20 with 18,598 shares traded.
• Analysts from TD Securities and BMO Capital Markets have revised their target price for Wajax shares up to C$25.00, maintaining a "hold" rating.
• The company has a market capitalization of C$526.25 million and key financial ratios indicating a mixed performance, including a P/E ratio of 14.85 and a debt-to-equity ratio of 116.61.

Wajax Co. (TSE:WJX - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$21.62 and traded as high as C$24.20. Wajax shares last traded at C$24.20, with a volume of 18,598 shares trading hands.

Analyst Ratings Changes

A number of analysts recently weighed in on WJX shares. TD Securities upped their target price on shares of Wajax from C$24.00 to C$25.00 and gave the company a "hold" rating in a research note on Monday, August 11th. BMO Capital Markets upped their price objective on Wajax from C$22.00 to C$25.00 in a research note on Tuesday, July 22nd. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of C$23.38.

Wajax Stock Up 0.3%

The company has a market cap of C$526.25 million, a P/E ratio of 14.85, a PEG ratio of 0.50 and a beta of 0.79. The company has a debt-to-equity ratio of 116.61, a current ratio of 2.10 and a quick ratio of 0.71. The business's 50 day moving average price is C$23.54 and its 200-day moving average price is C$21.62.

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.

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