Wajax (TSE:WJX) Stock Price Crosses Above 200 Day Moving Average - What's Next?

Key Points

• Technical breakout: Wajax shares climbed above their 200-day moving average (C$27.48), trading as high as C$32.19 and last at C$31.90, suggesting short-term upward momentum.
• Analyst activity and consensus: National Bank Financial upgraded Wajax to "outperform" with a C$37 target while other firms adjusted targets around C$34; the MarketBeat consensus remains a "Hold" with an average target of C$34.75 (one Buy, three Holds).
• Valuation and recent results: The company has a market cap of ~C$696M, P/E of 12.36 and PEG of 0.50, and reported quarterly EPS of C$0.71 on C$560.05M revenue with a net margin of 2.68% and ROE of 10.91%.

Shares of Wajax Co. (TSE:WJX - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$27.48 and traded as high as C$32.19. Wajax shares last traded at C$31.90, with a volume of 51,529 shares.

Analyst Upgrades and Downgrades

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

Wajax Trading Up 0.5%

The business's 50 day moving average is C$30.45 and its two-hundred day moving average is C$27.48. The company has a quick ratio of 0.71, a current ratio of 2.14 and a debt-to-equity ratio of 78.49. The firm has a market capitalization of C$695.99 million, a P/E ratio of 12.36, a PEG ratio of 0.50 and a beta of 0.66.

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

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

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