Wajax (TSE:WJX) Stock Crosses Above 200 Day Moving Average of $17.18

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Wajax Co. (TSE:WJX)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$17.18 and traded as high as C$21.15. Wajax shares last traded at C$20.76, with a volume of 187,687 shares changing hands.

WJX has been the topic of several research analyst reports. Scotiabank boosted their price objective on Wajax from C$25.00 to C$26.00 in a research report on Wednesday, March 3rd. Raymond James boosted their price objective on Wajax from C$18.50 to C$20.00 and gave the company a “market perform” rating in a research note on Wednesday, March 3rd. Finally, TD Securities upped their target price on Wajax from C$20.00 to C$24.00 and gave the stock a “buy” rating in a research note on Wednesday, March 3rd.

The stock has a market cap of C$437.66 million and a P/E ratio of 13.17. The firm has a 50-day moving average price of C$20.12 and a 200-day moving average price of C$17.22. The company has a debt-to-equity ratio of 116.46, a quick ratio of 0.88 and a current ratio of 2.34.

Wajax (TSE:WJX) last posted its earnings results on Monday, March 1st. The company reported C$0.47 EPS for the quarter, topping the Zacks’ consensus estimate of C$0.46 by C$0.01. The business had revenue of C$381.00 million during the quarter. On average, research analysts predict that Wajax Co. will post 2.0999998 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 6th. Stockholders of record on Monday, March 15th were given a $0.25 dividend. The ex-dividend date was Friday, March 12th. This represents a $1.00 annualized dividend and a dividend yield of 4.89%. Wajax’s payout ratio is 64.52%.

About Wajax (TSE:WJX)

Wajax Corporation, an integrated distribution company, provides sales, parts, and services to construction, forestry, mining, industrial/commercial, oil sands, transportation, metal processing, government, utilities, and oil and gas sectors. The company offers construction and material-handling equipment; industrial products, such as bearings, bulk material handling, filtration, fluid handling, hydraulics, instrumentation, pneumatics, power transmissions, and safety and mill supplies, as well as sealing, belting, lubricants, and hydraulic hoses; cages and partitions, guarding and barriers, lockers, cabinets, workstations, rack accessories and protections, racking, shelving, and storage platforms; power generation solutions; crane and utility equipment, which includes aerial devices, boom lifts, cranes, digger derricks, drills, lifts, and material and scissor lifts; and forestry equipment, such as wood chippers, feller bunchers and heads, flail debarkers, forwarders, grinders, log loaders, skidders, track harvesters, and wheel harvesters.

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