Wajax (TSE:WJX) Price Target Raised to C$34.00

Wajax (TSE:WJX) had its target price increased by research analysts at Scotiabank from C$29.00 to C$34.00 in a research report issued on Wednesday,BayStreet.CA reports. The brokerage currently has a “sector perform” rating on the stock. Scotiabank’s price objective suggests a potential upside of 0.59% from the stock’s previous close.

Several other analysts have also recently commented on the stock. BMO Capital Markets dropped their target price on shares of Wajax from C$40.00 to C$34.00 and set a “market perform” rating for the company in a research report on Wednesday. TD Securities increased their target price on Wajax from C$28.00 to C$34.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, National Bank Financial upgraded Wajax from a “hold” rating to an “outperform” rating and boosted their target price for the stock from C$27.00 to C$37.00 in a research report on Tuesday. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of C$34.75.

Wajax Trading Up 0.1%

Wajax stock traded up C$0.03 during mid-day trading on Wednesday, hitting C$33.80. The stock had a trading volume of 97,132 shares, compared to its average volume of 44,098. The stock has a 50-day simple moving average of C$29.00 and a two-hundred day simple moving average of C$26.52. The company has a current ratio of 2.22, a quick ratio of 0.71 and a debt-to-equity ratio of 90.28. The stock has a market capitalization of C$735.01 million, a PE ratio of 16.17, a P/E/G ratio of 0.50 and a beta of 0.49. Wajax has a 12 month low of C$15.55 and a 12 month high of C$34.20.

Wajax (TSE:WJX) last released its earnings results on Tuesday, March 3rd. The company reported C$0.71 earnings per share (EPS) for the quarter. The company had revenue of C$560.05 million for the quarter. Wajax had a net margin of 2.16% and a return on equity of 8.91%. As a group, sell-side analysts forecast that Wajax will post 3.4850136 EPS for the current year.

About Wajax

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.