Wajax (TSE:WJX) Share Price Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• Wajax's stock price recently crossed above its 200-day moving average, reaching a high of C$23.73 before closing at C$22.88.
• Analysts have a consensus rating of "Hold" on Wajax shares, with price target increases from firms such as TD Securities and BMO Capital Markets, now set around C$25.00.
• The company operates as a Canadian distributor of industrial components, primarily generating revenue from equipment sales used in sectors like construction, mining, and forestry.

Wajax Co. (TSE:WJX - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$20.76 and traded as high as C$23.73. Wajax shares last traded at C$22.88, with a volume of 40,623 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on WJX shares. TD Securities increased their price objective on shares of Wajax from C$24.00 to C$25.00 and gave the stock a "hold" rating in a report on Monday, August 11th. Scotiabank increased their price objective on shares of Wajax from C$22.00 to C$23.50 and gave the stock a "sector perform" rating in a report on Wednesday, May 7th. Finally, BMO Capital Markets increased their price objective on shares of Wajax from C$22.00 to C$25.00 in a report on Tuesday, July 22nd. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Wajax currently has an average rating of "Hold" and an average price target of C$23.38.

Wajax Trading Down 0.4%

The company has a debt-to-equity ratio of 116.61, a quick ratio of 0.71 and a current ratio of 2.10. The company has a market capitalization of C$514.89 million, a price-to-earnings ratio of 9.66, a P/E/G ratio of 0.50 and a beta of 1.80. The business's 50-day simple moving average is C$23.08 and its 200-day simple moving average is C$20.84.

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.