BMO Capital Markets Has Lowered Expectations for Wajax (TSE:WJX) Stock Price

Wajax (TSE:WJX) had its price objective dropped by equities research analysts at BMO Capital Markets from C$40.00 to C$34.00 in a research note issued on Wednesday,BayStreet.CA reports. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets’ price objective points to a potential upside of 0.71% from the company’s current price.

Several other research firms have also weighed in on WJX. Scotiabank boosted their price objective on Wajax from C$26.00 to C$27.00 in a research note on Wednesday, November 5th. TD Securities increased their price objective on shares of Wajax from C$28.00 to C$34.00 and gave the stock a “hold” rating in a report on Wednesday. Finally, National Bank Financial upgraded shares of Wajax from a “hold” rating to an “outperform” rating and raised their price objective for the company from C$27.00 to C$37.00 in a research report on Tuesday. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of C$34.75.

Wajax Trading Down 0.1%

Shares of TSE:WJX opened at C$33.76 on Wednesday. Wajax has a 1 year low of C$15.55 and a 1 year high of C$34.88. The firm has a fifty day moving average price of C$29.26 and a 200 day moving average price of C$26.63. The stock has a market capitalization of C$734.14 million, a PE ratio of 16.15, a P/E/G ratio of 0.50 and a beta of 0.49. The company has a current ratio of 2.14, a quick ratio of 0.71 and a debt-to-equity ratio of 78.49.

Wajax (TSE:WJX) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported C$0.71 earnings per share for the quarter. Wajax had a return on equity of 10.91% and a net margin of 2.68%.The business had revenue of C$560.05 million during the quarter. Analysts expect that Wajax will post 3.4850136 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.