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

Key Points

• Wajax shares crossed above its 200-day moving average
• Analyst views are mixed: National Bank Financial upgraded to "outperform" with a C$37 target, but the consensus rating is a "Hold" with an average price target of C$34.75.
• Key fundamentals: market cap C$712.14M, a PE ratio of 12.65, recent quarterly EPS of C$0.71 on C$560.05M revenue, and an estimated full-year EPS of about 3.49.

Wajax Co. (TSE:WJX - Get Free Report) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$28.13 and traded as high as C$32.66. Wajax shares last traded at C$32.64, with a volume of 56,946 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. National Bank Financial upgraded shares of Wajax from a "hold" rating to an "outperform" rating and upped their target price for the stock from C$27.00 to C$37.00 in a research report on Tuesday, March 3rd. Scotiabank upped their target price on shares of Wajax from C$29.00 to C$34.00 and gave the stock a "sector perform" rating in a research report on Wednesday, March 4th. TD Securities upped their target price on shares of Wajax from C$28.00 to C$34.00 and gave the stock a "hold" rating in a research report on Wednesday, March 4th. Finally, BMO Capital Markets cut their target price on shares of Wajax from C$40.00 to C$34.00 and set a "market perform" rating for the company in a research report on Wednesday, March 4th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of C$34.75.

Wajax Price Performance

The firm's 50-day moving average is C$31.36 and its 200-day moving average is C$28.13. The company has a market capitalization of C$712.14 million, a PE ratio of 12.65, a price-to-earnings-growth ratio of 0.50 and a beta of 0.51. The company has a quick ratio of 0.71, a current ratio of 2.14 and a debt-to-equity ratio of 78.49.

Wajax (TSE:WJX - Get Free Report) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported C$0.71 earnings per share for the quarter. The business had revenue of C$560.05 million during the quarter. Wajax had a net margin of 2.68% and a return on equity of 10.91%. Equities analysts predict 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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