Wajax (TSE:WJX) Hits New 12-Month High on Analyst Upgrade

Wajax Co. (TSE:WJX)’s stock price hit a new 52-week high during mid-day trading on Tuesday after National Bankshares raised their price target on the stock from C$25.00 to C$27.00. National Bankshares currently has a sector perform rating on the stock. Wajax traded as high as C$28.57 and last traded at C$28.45, with a volume of 2582 shares traded. The stock had previously closed at C$27.87.

Other analysts have also issued research reports about the stock. BMO Capital Markets boosted their target price on shares of Wajax from C$26.00 to C$27.00 in a research report on Wednesday, November 5th. Scotiabank boosted their price objective on shares of Wajax from C$26.00 to C$27.00 in a report on Wednesday, November 5th. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Wajax currently has a consensus rating of “Hold” and a consensus target price of C$26.50.

Wajax Stock Down 2.1%

The stock has a market capitalization of C$608.89 million, a P/E ratio of 13.40, a P/E/G ratio of 0.50 and a beta of 0.67. The company has a current ratio of 2.10, a quick ratio of 0.71 and a debt-to-equity ratio of 116.61. The stock’s 50 day simple moving average is C$26.03 and its 200 day simple moving average is C$24.28.

Wajax (TSE:WJX) last issued its quarterly earnings results on Monday, November 3rd. The company reported C$0.75 earnings per share for the quarter. The business had revenue of C$483.15 million during the quarter. Wajax had a return on equity of 10.40% and a net margin of 2.55%. As a group, research analysts predict that Wajax Co. will post 3.4850136 EPS 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.