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

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$20.35 and traded as high as C$23.52. Wajax shares last traded at C$23.30, with a volume of 42,650 shares traded.

Analyst Ratings Changes

Several analysts have weighed in on WJX shares. TD Securities downgraded Wajax from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 27th. National Bankshares lowered their price target on shares of Wajax from C$22.00 to C$20.00 and set a "sector perform" rating for the company in a report on Wednesday, April 9th. Scotiabank raised their price target 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. Finally, BMO Capital Markets upped their price objective on shares of Wajax from C$20.00 to C$22.00 in a research note on Tuesday, May 6th.

Wajax Price Performance

The company has a market cap of C$491.07 million, a PE ratio of 9.21, a price-to-earnings-growth ratio of 0.50 and a beta of 1.80. The business has a 50 day moving average of C$20.69 and a 200 day moving average of C$20.34. The company has a debt-to-equity ratio of 116.61, a current ratio of 2.10 and a quick ratio of 0.71.

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.