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

Wajax Co. (TSE:WJX - Get Free Report)'s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$20.23 and traded as high as C$23.68. Wajax shares last traded at C$23.38, with a volume of 97,590 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on WJX shares. Scotiabank raised their target price on shares of Wajax from C$22.00 to C$23.50 and gave the stock a "sector perform" rating in a report on Wednesday, May 7th. National Bankshares lowered their price target on Wajax from C$22.00 to C$20.00 and set a "sector perform" rating on the stock in a report on Wednesday, April 9th. TD Securities lifted their price objective on Wajax from C$21.00 to C$24.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Finally, BMO Capital Markets increased their target price on Wajax from C$20.00 to C$22.00 in a report on Tuesday, May 6th.

Wajax Stock Performance

The business's 50-day moving average price is C$18.10 and its 200-day moving average price is C$20.23. The stock has a market cap of C$510.96 million, a P/E ratio of 9.58, a P/E/G ratio of 0.50 and a beta of 1.80. The company has a debt-to-equity ratio of 116.61, a quick ratio of 0.71 and a current ratio of 2.10.

About Wajax

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.