Wajax (TSE:WJX) Price Target Raised to C$36.00

Wajax (TSE:WJX) had its price target boosted by National Bank Financial from C$34.00 to C$36.00 in a research note issued to investors on Monday,BayStreet.CA reports. They currently have an outperform rating on the stock.

Several other research analysts also recently weighed in on WJX. TD dropped their price target on Wajax from C$35.00 to C$33.00 and set a “hold” rating for the company in a research note on Wednesday, May 6th. Scotiabank reduced their price objective on shares of Wajax from C$37.00 to C$36.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 7th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of C$34.80.

Wajax Stock Down 1.0%

WJX opened at C$30.99 on Monday. Wajax has a fifty-two week low of C$22.43 and a fifty-two week high of C$35.00. The company has a debt-to-equity ratio of 72.41, a quick ratio of 0.71 and a current ratio of 1.88. The stock has a market cap of C$674.96 million, a price-to-earnings ratio of 11.11, a price-to-earnings-growth ratio of 0.50 and a beta of 0.44. The firm’s fifty day moving average is C$31.62 and its 200 day moving average is C$31.07.

Wajax (TSE:WJX) last announced its quarterly earnings data on Thursday, August 6th. The company reported C$0.82 EPS for the quarter. The business had revenue of C$515.67 million for the quarter. Wajax had a return on equity of 11.63% and a net margin of 2.97%. On average, sell-side analysts forecast that Wajax will post 3.4850136 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Jane Craighead bought 1,100 shares of the stock in a transaction dated Tuesday, May 26th. The stock was purchased at an average cost of C$28.84 per share, for a total transaction of C$31,724.00. Following the transaction, the director owned 11,900 shares of the company’s stock, valued at C$343,196. The trade was a 10.19% increase in their ownership of the stock. 0.97% of the stock is owned by company insiders.

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.