Wajax (TSE:WJX) Stock Price Expected to Rise, TD Securities Analyst Says

Wajax (TSE:WJX) had its target price boosted by investment analysts at TD Securities from C$28.00 to C$34.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The firm currently has a “hold” rating on the stock. TD Securities’ price objective points to a potential upside of 0.59% from the stock’s current price.

WJX has been the topic of several other research reports. BMO Capital Markets upped their target price on shares of Wajax from C$26.00 to C$27.00 in a research note on Wednesday, November 5th. Scotiabank increased their target price on Wajax from C$26.00 to C$27.00 in a research note on Wednesday, November 5th. Finally, National Bank Financial upgraded Wajax from a “hold” rating to an “outperform” rating and boosted their price target for the stock from C$27.00 to C$37.00 in a research note on Tuesday. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of C$34.75.

Wajax Stock Up 0.1%

Shares of TSE WJX traded up C$0.03 during trading on Wednesday, reaching C$33.80. The company had a trading volume of 97,132 shares, compared to its average volume of 44,098. Wajax has a 12-month low of C$15.55 and a 12-month high of C$34.20. The company has a quick ratio of 0.71, a current ratio of 2.22 and a debt-to-equity ratio of 90.28. The business’s 50-day moving average is C$29.00 and its 200 day moving average is C$26.52. The stock has a market cap 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 (TSE:WJX) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported C$0.71 earnings per share (EPS) for the quarter. Wajax had a net margin of 2.16% and a return on equity of 8.91%. The company had revenue of C$560.05 million for the quarter. As a group, equities analysts forecast 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.