Wajax (TSE:WJX) Shares Pass Above 200 Day Moving Average - What's Next?

Key Points

• Wajax shares crossed above its 200‑day moving average (200‑day MA C$28.48) on Friday, trading as high as C$32.49 and last at C$32.24 on volume of 61,593 shares.
• Analysts recently moved targets and ratings — the stock has a consensus rating of "Hold" with a consensus price target of C$34.75; National Bank Financial upgraded to "Outperform" with a C$37 target while Scotiabank, TD and BMO set targets near C$34 (one Buy, three Holds overall).
• Key fundamentals: market cap C$703.4M, P/E 12.5, PEG 0.50; last quarter EPS C$0.71 on C$560.05M revenue, current ratio 2.14, quick ratio 0.71 and debt‑to‑equity 78.49.

Wajax Co. (TSE:WJX - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$28.48 and traded as high as C$32.49. Wajax shares last traded at C$32.24, with a volume of 61,593 shares.

Analysts Set New Price Targets

A number of equities analysts recently commented on WJX shares. Scotiabank raised their price target on shares of Wajax from C$29.00 to C$34.00 and gave the stock a "sector perform" rating in a research report on Wednesday, March 4th. BMO Capital Markets lowered their price target on shares of Wajax from C$40.00 to C$34.00 and set a "market perform" rating on the stock in a research report on Wednesday, March 4th. TD Securities raised their price target on shares of Wajax from C$28.00 to C$34.00 and gave the stock a "hold" rating in a research report on Wednesday, March 4th. Finally, National Bank Financial raised shares of Wajax from a "hold" rating to an "outperform" rating and raised their price target for the stock from C$27.00 to C$37.00 in a research report on Tuesday, March 3rd. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of C$34.75.

Wajax Stock Performance

The stock has a 50 day simple moving average of C$31.79 and a 200 day simple moving average of C$28.48. The company has a current ratio of 2.14, a quick ratio of 0.71 and a debt-to-equity ratio of 78.49. The stock has a market cap of C$703.41 million, a P/E ratio of 12.50, a price-to-earnings-growth ratio of 0.50 and a beta of 0.51.

Wajax (TSE:WJX - Get Free Report) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported C$0.71 EPS for the quarter. Wajax had a return on equity of 10.91% and a net margin of 2.68%.The firm had revenue of C$560.05 million for the quarter. On average, equities analysts expect that Wajax Co. will post 3.4850136 earnings per share for the current year.

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. It sells to leading manufacturer brands such as Hitachi, JCB, Bell, Hyster, Palfinger and other similar industries.

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