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

Wajax Co. (TSE:WJX - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$20.28 and traded as high as C$22.86. Wajax shares last traded at C$22.81, with a volume of 19,228 shares changing hands.

Analysts Set New Price Targets

WJX has been the subject of several recent analyst reports. TD Securities cut shares of Wajax from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 27th. BMO Capital Markets lifted their price target on Wajax from C$20.00 to C$22.00 in a report on Tuesday, May 6th. National Bankshares cut their price objective on shares of Wajax from C$22.00 to C$20.00 and set a "sector perform" rating on the stock in a report on Wednesday, April 9th. Finally, Scotiabank upped their price target on shares of Wajax from C$22.00 to C$23.50 and gave the stock a "sector perform" rating in a research report on Wednesday, May 7th.

Wajax Trading Up 1.8%

The firm's 50 day simple moving average is C$21.84 and its 200-day simple moving average is C$20.28. The company has a market capitalization of C$507.24 million, a PE ratio of 9.51, a P/E/G 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.

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.