Wajax (TSE:WJX) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Wajax Co. (TSE:WJX) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$30.66 and traded as high as C$34.74. Wajax shares last traded at C$34.63, with a volume of 43,936 shares.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on WJX shares. Scotiabank lowered their price objective on Wajax from C$37.00 to C$36.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 7th. TD cut their target price on Wajax from C$35.00 to C$33.00 and set a “hold” rating for the company in a research report on Wednesday, May 6th. Finally, National Bank Financial decreased their price target on Wajax from C$37.00 to C$34.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of C$34.20.

Wajax Trading Up 2.1%

The company has a market cap of C$754.24 million, a price-to-earnings ratio of 12.41, a price-to-earnings-growth ratio of 0.50 and a beta of 0.45. The company’s fifty day moving average price is C$30.61 and its two-hundred day moving average price is C$30.66. The company has a quick ratio of 0.71, a current ratio of 1.88 and a debt-to-equity ratio of 72.41.

Wajax (TSE:WJX) last announced its earnings results on Monday, May 4th. The company reported C$0.65 EPS for the quarter. The business had revenue of C$502.07 million for the quarter. Wajax had a return on equity of 11.63% and a net margin of 2.97%. Research analysts expect that Wajax Co. will post 3.4850136 earnings per share for the current year.

Insiders Place Their Bets

In other Wajax news, Director Jane Craighead bought 1,100 shares of the stock in a transaction dated Tuesday, May 26th. The stock was bought at an average cost of C$28.84 per share, for a total transaction of C$31,724.00. Following the completion of the purchase, the director owned 11,900 shares in the company, valued at C$343,196. This represents a 10.19% increase in their position. Also, Director Thomas Malcolm Alford bought 5,000 shares of the stock in a transaction dated Wednesday, May 6th. The stock was acquired at an average price of C$29.15 per share, with a total value of C$145,750.00. Following the completion of the purchase, the director owned 5,000 shares of the company’s stock, valued at C$145,750. This represents a ∞ increase in their position. Over the last quarter, insiders have acquired 18,153 shares of company stock valued at $535,312. 0.97% of the stock is currently owned by corporate insiders.

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.