Wajax (TSE:WJX) Shares Pass Above 200-Day Moving Average - Should You Sell?

Key Points

• Wajax Co. (TSE:WJX) shares have recently surpassed their 200-day moving average of C$20.65, trading as high as C$23.85, with the last recorded price at C$23.81.
• BMO Capital Markets has increased their price target for Wajax from C$22.00 to C$25.00, while the National Bankshares has lowered theirs from C$22.00 to C$20.00.
• The company has a market cap of C$520.36 million and a PE ratio of 9.76, indicating it is financially stable within the industrial components sector.

Wajax Co. (TSE:WJX - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$20.65 and traded as high as C$23.85. Wajax shares last traded at C$23.81, with a volume of 56,288 shares changing hands.

Analyst Ratings Changes

Several research firms have recently weighed in on WJX. TD Securities downgraded Wajax from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 27th. Scotiabank lifted their target price on Wajax from C$22.00 to C$23.50 and gave the stock a "sector perform" rating in a research report on Wednesday, May 7th. National Bankshares decreased their target price on Wajax from C$22.00 to C$20.00 and set a "sector perform" rating for the company in a research report on Wednesday, April 9th. Finally, BMO Capital Markets raised their price target on shares of Wajax from C$22.00 to C$25.00 in a research note on Tuesday, July 22nd.

Wajax Trading Down 1.7%

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 stock has a 50-day simple moving average of C$23.03 and a two-hundred day simple moving average of C$20.69. The firm has a market capitalization of C$513.58 million, a P/E ratio of 9.63, a price-to-earnings-growth ratio of 0.50 and a beta of 1.80.

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.