Wajax (TSE:WJX) Shares Cross Above 200-Day Moving Average - Here's Why

Wajax Co. (TSE:WJX - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$20.37 and traded as high as C$20.90. Wajax shares last traded at C$20.70, with a volume of 270,106 shares traded.

Analyst Ratings Changes

Several research firms recently issued reports on WJX. TD Securities cut their target price on Wajax from C$22.00 to C$21.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Scotiabank downgraded shares of Wajax from an "outperform" rating to a "sector perform" rating and lowered their price target for the stock from C$24.00 to C$22.00 in a report on Wednesday, March 5th. National Bankshares cut their price objective 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 boosted their target price on shares of Wajax from C$20.00 to C$22.00 in a research note on Tuesday.

Wajax Stock Performance

The stock has a market capitalization of C$452.39 million, a PE ratio of 8.48, a price-to-earnings-growth ratio of 0.50 and a beta of 1.80. 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 fifty day moving average of C$17.55 and a 200-day moving average of C$20.37.

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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