Wajax (TSE:WJX) Shares Cross Above 200 Day Moving Average - Time to Sell?

Key Points

• The stock price of Wajax Co. (TSE:WJX) crossed above its 200-day moving average during trading, reaching a high of C$22.33 before last trading at C$22.00.
• Analysts have issued upgrades for Wajax, with Scotiabank raising its target price from C$22.00 to C$23.50 and TD Securities increasing it from C$24.00 to C$25.00.
• Wajax has a market capitalization of C$480.80 million and a current ratio of 2.10, indicating financial stability.

Wajax Co. (TSE:WJX - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$20.69 and traded as high as C$22.33. Wajax shares last traded at C$22.00, with a volume of 55,260 shares traded.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WJX. Scotiabank lifted their target price on Wajax from C$22.00 to C$23.50 and gave the company a "sector perform" rating in a research report on Wednesday, May 7th. TD Securities boosted their price target on shares of Wajax from C$24.00 to C$25.00 and gave the stock a "hold" rating in a report on Monday. Finally, BMO Capital Markets upped their target price on Wajax from C$22.00 to C$25.00 in a report on Tuesday, July 22nd.

Wajax Stock Up 0.5%

The stock's 50 day moving average is C$23.05 and its 200 day moving average is C$20.69. The company has a market capitalization of C$480.80 million, a PE ratio of 9.02, a PEG ratio of 0.50 and a beta of 1.80. The company has a debt-to-equity ratio of 116.61, a quick ratio of 0.71 and a current ratio of 2.10.

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.

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