Wajax (TSE:WJX) Stock Crosses Below Two Hundred Day Moving Average - What's Next?

Wajax Co. (TSE:WJX - Get Free Report)'s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$24.46 and traded as low as C$20.35. Wajax shares last traded at C$20.54, with a volume of 59,381 shares changing hands.

Analyst Ratings Changes

Several research analysts have recently issued reports on WJX shares. TD Securities dropped their price objective on shares of Wajax from C$30.00 to C$24.00 and set a "buy" rating on the stock in a report on Wednesday, November 6th. BMO Capital Markets lowered their price target on Wajax from C$28.00 to C$24.00 in a research note on Wednesday, November 6th. National Bank Financial upgraded Wajax to a "hold" rating in a research report on Thursday, September 26th. National Bankshares set a C$26.00 price objective on Wajax and gave the company a "sector perform" rating in a research report on Friday, September 27th. Finally, Scotiabank reduced their target price on Wajax from C$29.00 to C$24.00 in a research report on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of C$24.50.

Wajax Stock Up 2.0 %

The company has a current ratio of 1.91, a quick ratio of 0.71 and a debt-to-equity ratio of 103.38. The company has a market cap of C$455.46 million, a P/E ratio of 6.70, a price-to-earnings-growth ratio of 0.50 and a beta of 1.80. The firm's 50 day moving average price is C$22.56 and its 200-day moving average price is C$24.44.

Wajax Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 6.68%. The ex-dividend date is Monday, December 16th. Wajax's payout ratio is 44.73%.

Wajax Company Profile

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.