Wajax (TSE:WJX) Share Price Crosses Above 200 Day Moving Average - What's Next?

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)'s share price 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.

Analysts Set New Price Targets

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

Wajax Stock Performance

The stock has a market capitalization of C$517.12 million, a PE ratio of 14.59, a PEG ratio of 0.50 and a beta of 0.79. The company has a current ratio of 2.10, a quick ratio of 0.71 and a debt-to-equity ratio of 116.61. The business's 50 day moving average is C$23.38 and its 200 day moving average is C$21.17.

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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