Wajax (TSE:WJX) Lowered to Hold Rating by TD Securities

TD Securities lowered shares of Wajax (TSE:WJX) from a strong-buy rating to a hold rating in a research note published on Tuesday,Zacks.com reports.

Several other equities analysts have also weighed in on the stock. National Bankshares reduced their price objective on shares of Wajax from C$22.00 to C$20.00 and set a “sector perform” rating for the company in a research report on Wednesday, April 9th. BMO Capital Markets lifted their price target on shares of Wajax from C$20.00 to C$22.00 in a research report on Tuesday, May 6th. Finally, Scotiabank raised their price objective on shares of Wajax from C$22.00 to C$23.50 and gave the stock a “sector perform” rating in a research note on Wednesday, May 7th.

Wajax Price Performance

Shares of WJX stock opened at C$22.73 on Tuesday. The company has a market capitalization of C$496.75 million, a PE ratio of 9.32, a price-to-earnings-growth ratio of 0.50 and a beta of 1.80. The firm has a fifty day simple moving average of C$19.21 and a 200-day simple moving average of C$20.22. The company has a current ratio of 2.10, a quick ratio of 0.71 and a debt-to-equity ratio of 116.61. Wajax has a twelve month low of C$15.55 and a twelve month high of C$26.96.

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.