TD Securities Increases Wajax (TSE:WJX) Price Target to C$34.00

Wajax (TSE:WJX) had its price target upped by TD Securities from C$28.00 to C$34.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock. TD Securities’ target price would suggest a potential upside of 0.71% from the company’s previous close.

Several other research firms also recently weighed in on WJX. Scotiabank boosted their target price on shares of Wajax from C$26.00 to C$27.00 in a research report on Wednesday, November 5th. National Bank Financial upgraded shares of Wajax from a “hold” rating to an “outperform” rating and lifted their price objective for the stock from C$27.00 to C$37.00 in a research note on Tuesday. Finally, BMO Capital Markets upped their target price on Wajax from C$26.00 to C$27.00 in a research report on Wednesday, November 5th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of C$34.75.

Wajax Stock Down 0.1%

Shares of WJX stock 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 stock’s fifty day moving average price is C$29.26 and its 200 day moving average price is C$26.63. The company has a debt-to-equity ratio of 78.49, a current ratio of 2.14 and a quick ratio of 0.71. The company has a market cap of C$734.14 million, a price-to-earnings ratio of 16.15, a price-to-earnings-growth ratio of 0.50 and a beta of 0.49.

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