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

Shares of Wajax Co. (TSE:WJX - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$20.31 and traded as high as C$22.55. Wajax shares last traded at C$22.37, with a volume of 15,686 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. BMO Capital Markets lifted their price target on shares of Wajax from C$20.00 to C$22.00 in a research note on Tuesday, May 6th. TD Securities cut Wajax from a "strong-buy" rating to a "hold" rating in a report 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 on the stock in a research report on Wednesday, April 9th. Finally, Scotiabank raised 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 Performance

The stock has a market cap of C$494.79 million, a price-to-earnings ratio of 9.28, a P/E/G ratio of 0.50 and a beta of 1.80. 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 firm has a fifty day simple moving average of C$21.50 and a 200-day simple moving average of C$20.29.

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.