Wajax (TSE:WJX) Share Price Crosses Above 200 Day Moving Average of $30.55

Wajax Co. (TSE:WJX) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$30.55 and traded as high as C$32.47. Wajax shares last traded at C$32.29, with a volume of 19,557 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WJX. TD Securities boosted their target price on Wajax from C$34.00 to C$37.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. BMO Capital Markets upped their price objective on Wajax from C$34.00 to C$36.00 in a research report on Friday. Finally, Scotiabank upped their price objective on Wajax from C$36.00 to C$37.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 6th.

Wajax Stock Up 4.1 %

The business has a 50-day moving average price of C$32.71 and a two-hundred day moving average price of C$30.60. The company has a quick ratio of 0.71, a current ratio of 2.16 and a debt-to-equity ratio of 100.93. The firm has a market cap of C$725.29 million, a PE ratio of 9.20, a price-to-earnings-growth ratio of 0.50 and a beta of 1.90.

Wajax (TSE:WJX) last issued its earnings results on Monday, March 4th. The company reported C$0.83 EPS for the quarter. The firm had revenue of C$542.60 million during the quarter. Wajax had a net margin of 3.76% and a return on equity of 17.12%. On average, equities research analysts expect that Wajax Co. will post 3.9178404 EPS for the current year.

Wajax Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Investors of record on Friday, March 15th were paid a dividend of $0.35 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.18%. This is an increase from Wajax’s previous quarterly dividend of $0.33. Wajax’s payout ratio is presently 38.46%.

About Wajax

Wajax Corporation provides equipment, parts, and services to construction, forestry, mining, industrial and commercial, oil sands, transportation, metal processing, government, utilities, and oil and gas sectors. The company offers compact excavators, dump trucks, excavators, wheel loaders, and wheeled excavators; aerial devices, boom lifts, cranes, digger derricks, drills, lifts, and material and scissor lifts; marine, off and on highway engines, and transmissions; and feller bunchers, felling heads, flail debarkers, forwarders, grinders, harvesting heads, log loaders, mulchers, skidders, track and wheel harvesters, and woodchippers.