Wajax (TSE:WJX) Price Target Raised to C$28.00 at TD Securities

Wajax (TSE:WJX) had its target price hoisted by TD Securities from C$25.00 to C$28.00 in a note issued to investors on Wednesday,BayStreet.CA reports. TD Securities’ price target indicates a potential downside of 4.21% from the stock’s previous close.

Several other equities analysts also recently weighed in on the stock. BMO Capital Markets increased their price target on shares of Wajax from C$26.00 to C$27.00 in a report on Wednesday, November 5th. Scotiabank upped their price objective on Wajax from C$26.00 to C$27.00 in a report on Wednesday, November 5th. Finally, National Bankshares raised their target price on Wajax from C$25.00 to C$27.00 and gave the company a “sector perform” rating in a report on Monday, December 15th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, Wajax has an average rating of “Hold” and a consensus target price of C$27.25.

Wajax Price Performance

Shares of Wajax stock traded down C$0.25 on Wednesday, hitting C$29.23. 37,208 shares of the company traded hands, compared to its average volume of 33,688. The stock has a market capitalization of C$635.64 million, a P/E ratio of 13.99, a price-to-earnings-growth ratio of 0.50 and a beta of 0.49. The business has a 50-day simple moving average of C$27.94 and a 200 day simple moving average of C$25.52. The company has a debt-to-equity ratio of 116.61, a quick ratio of 0.71 and a current ratio of 2.10. Wajax has a 52 week low of C$15.55 and a 52 week high of C$29.60.

Wajax (TSE:WJX) last released its earnings results on Monday, November 3rd. The company reported C$0.75 EPS for the quarter. Wajax had a return on equity of 10.40% and a net margin of 2.55%.The firm had revenue of C$483.15 million for the quarter. Research analysts expect that Wajax will post 3.4850136 earnings per share for the current fiscal year.

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.