BMO Capital Markets Forecasts Strong Price Appreciation for Wajax (TSE:WJX) Stock

Wajax (TSE:WJX) had its target price upped by analysts at BMO Capital Markets from C$20.00 to C$22.00 in a research report issued on Tuesday,BayStreet.CA reports. BMO Capital Markets’ price objective points to a potential upside of 4.17% from the company’s current price.

Several other analysts have also issued reports on WJX. TD Securities dropped their target price on Wajax from C$22.00 to C$21.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. National Bankshares dropped their price objective on Wajax from C$22.00 to C$20.00 and set a “sector perform” rating on the stock in a research note on Wednesday, April 9th. Finally, Scotiabank downgraded shares of Wajax from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from C$24.00 to C$22.00 in a report on Wednesday, March 5th.

Wajax Trading Up 2.0 %

TSE:WJX opened at C$21.12 on Tuesday. The company has a market cap of C$461.57 million, a P/E ratio of 8.66, a price-to-earnings-growth ratio of 0.50 and a beta of 1.80. Wajax has a twelve month low of C$15.55 and a twelve month high of C$27.49. The business has a 50 day moving average price of C$17.57 and a two-hundred day moving average price of C$20.34. The company has a quick ratio of 0.71, a current ratio of 2.10 and a debt-to-equity ratio of 116.61.

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.