Wajax (TSE:WJX) Upgraded at TD Securities

TD Securities upgraded shares of Wajax (TSE:WJX) from a hold rating to a strong-buy rating in a research report report published on Wednesday,Zacks reports.

WJX has been the subject of a number of other research reports. TD upgraded shares of Wajax from a “hold” rating to a “buy” rating and set a C$41.00 target price for the company in a research note on Wednesday. Scotiabank dropped their price target on Wajax from C$37.00 to C$36.00 and set a “sector perform” rating for the company in a report on Tuesday, July 7th. Stifel Nicolaus set a C$45.00 price target on Wajax and gave the company a “buy” rating in a report on Wednesday, September 30th. Finally, National Bank Financial lifted their price objective on Wajax from C$36.00 to C$42.00 and gave the company an “outperform” rating in a research report on Thursday, October 15th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Wajax currently has a consensus rating of “Buy” and a consensus price target of C$38.67.

Wajax Price Performance

WJX stock traded down C$0.26 during trading on Wednesday, hitting C$32.55. 62,957 shares of the stock traded hands, compared to its average volume of 70,608. Wajax has a one year low of C$26.08 and a one year high of C$40.00. The stock has a market cap of C$708.94 million, a price-to-earnings ratio of 11.92, a P/E/G ratio of 0.50 and a beta of 0.19. The company has a 50 day simple moving average of C$33.93 and a 200 day simple moving average of C$31.72. The company has a current ratio of 2.03, a quick ratio of 0.71 and a debt-to-equity ratio of 73.68.

Wajax (TSE:WJX) last issued its quarterly earnings data on Monday, November 2nd. The company reported C$0.59 earnings per share for the quarter. The firm had revenue of C$477.80 million for the quarter. Wajax had a net margin of 2.96% and a return on equity of 11.04%. Equities analysts expect that Wajax will post 3.49 EPS for the current fiscal 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.