Wajax (TSE:WJX) Stock Passes Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Wajax Co.'s share price surpassed its 200-day moving average of C$21.17, reaching a high of C$23.85 during trading.
• Analysts have raised their price targets, with BMO Capital Markets increasing it from C$22.00 to C$25.00, while TD Securities also set a target of C$25.00, maintaining a "hold" rating.
• The company has a market capitalization of C$517.12 million and a PE ratio of 14.59, indicating stable financial performance amidst growing analyst interest.

Wajax Co. (TSE:WJX - Get Free Report) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$21.17 and traded as high as C$23.85. Wajax shares last traded at C$23.78, with a volume of 20,184 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on WJX shares. BMO Capital Markets lifted their price objective on Wajax from C$22.00 to C$25.00 in a research report on Tuesday, July 22nd. TD Securities upped their price objective on Wajax from C$24.00 to C$25.00 and gave the company a "hold" rating in a report on Monday, August 11th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat, Wajax currently has a consensus rating of "Hold" and a consensus target price of C$23.38.

Wajax Stock Performance

The company has a market cap of C$512.99 million, a P/E ratio of 14.47, a price-to-earnings-growth ratio of 0.50 and a beta of 0.79. The company has a quick ratio of 0.71, a current ratio of 2.10 and a debt-to-equity ratio of 116.61. The stock has a 50 day moving average price of C$23.38 and a two-hundred day moving average price of C$21.26.

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.