Wajax (TSE:WJX) Reaches New 52-Week High – Time to Buy?

Wajax Co. (TSE:WJX) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$31.41 and last traded at C$31.41, with a volume of 64414 shares. The stock had previously closed at C$30.90.

Wall Street Analyst Weigh In

A number of research firms have weighed in on WJX. BMO Capital Markets lifted their price objective on shares of Wajax from C$26.00 to C$27.00 in a report on Wednesday, November 5th. Scotiabank raised their target price on Wajax from C$26.00 to C$27.00 in a research report on Wednesday, November 5th. National Bank Financial lifted their price target on Wajax from C$25.00 to C$27.00 and gave the company a “sector perform” rating in a research note on Monday, December 15th. Finally, TD Securities increased their price target on Wajax from C$25.00 to C$28.00 in a research report on Wednesday, February 4th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of C$27.25.

Wajax Stock Up 1.7%

The company has a debt-to-equity ratio of 116.61, a current ratio of 2.10 and a quick ratio of 0.71. The business’s 50 day moving average price is C$28.57 and its 200 day moving average price is C$26.19. The firm has a market cap of C$683.04 million, a PE ratio of 15.03, a PEG ratio of 0.50 and a beta of 0.49.

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.