Wajax (TSE:WJX) Upgraded by National Bank Financial to Outperform Rating

National Bank Financial upgraded shares of Wajax (TSE:WJX) from a sector perform rating to an outperform rating in a report released on Tuesday morning,BayStreet.CA reports. They currently have C$37.00 target price on the stock, up from their previous target price of C$27.00.

A number of other brokerages have also recently commented on WJX. BMO Capital Markets upped their target price on shares of Wajax from C$26.00 to C$27.00 in a report on Wednesday, November 5th. Scotiabank boosted their price target on Wajax from C$26.00 to C$27.00 in a research report on Wednesday, November 5th. Finally, TD Securities upped their price objective on Wajax from C$25.00 to C$28.00 in a research note on Wednesday, February 4th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of C$29.75.

Wajax Stock Up 6.9%

Wajax stock opened at C$33.77 on Tuesday. Wajax has a twelve month low of C$15.55 and a twelve month high of C$33.95. The stock’s fifty day simple moving average is C$29.00 and its 200-day simple moving average is C$26.52. The company has a current ratio of 2.22, a quick ratio of 0.71 and a debt-to-equity ratio of 90.28. The firm has a market capitalization of C$734.36 million, a P/E ratio of 16.16, a P/E/G ratio of 0.50 and a beta of 0.49.

Wajax (TSE:WJX) last issued its earnings results on Tuesday, March 3rd. The company reported C$0.71 earnings per share for the quarter. Wajax had a net margin of 2.16% and a return on equity of 8.91%. The firm had revenue of C$560.05 million for the quarter. As a group, equities 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.