Wajax (TSE:WJX) Share Price Crosses Above 200 Day Moving Average - Should You Sell?

Shares of Wajax Co. (TSE:WJX - Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$20.27 and traded as high as C$22.85. Wajax shares last traded at C$22.56, with a volume of 21,718 shares traded.

Analyst Ratings Changes

WJX has been the topic of several research analyst reports. TD Securities downgraded shares of Wajax from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 27th. National Bankshares reduced 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. BMO Capital Markets boosted their price objective on shares of Wajax from C$20.00 to C$22.00 in a report on Tuesday, May 6th. Finally, Scotiabank upped their price objective on shares of 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.

Wajax Stock Up 0.1%

The firm has a market capitalization of C$493.48 million, a price-to-earnings ratio of 9.25, 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$19.69 and a 200 day moving average of C$20.27. 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.