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

Wajax (TSE:WJX) had its price objective lifted by equities research analysts at Scotiabank from C$29.00 to C$34.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s target price would suggest a potential upside of 0.71% from the stock’s previous close.

WJX has been the topic of a number of other research reports. National Bank Financial upgraded Wajax from a “hold” rating to an “outperform” rating and raised their target price for the company from C$27.00 to C$37.00 in a report on Tuesday. TD Securities raised their price objective on Wajax from C$28.00 to C$34.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, BMO Capital Markets reduced their target price on shares of Wajax from C$40.00 to C$34.00 and set a “market perform” rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Wajax currently has an average rating of “Hold” and an average target price of C$34.75.

Wajax Trading Down 0.1%

TSE:WJX opened at C$33.76 on Wednesday. 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 firm has a 50-day moving average of C$29.26 and a 200-day moving average of C$26.63. The company has a market cap of C$734.14 million, a PE ratio of 16.15, a PEG ratio of 0.50 and a beta of 0.49. Wajax has a one year low of C$15.55 and a one year high of C$34.88.

Wajax (TSE:WJX) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported C$0.71 earnings per share for the quarter. The business had revenue of C$560.05 million for the quarter. Wajax had a net margin of 2.68% and a return on equity of 10.91%. As a group, equities research analysts expect that Wajax 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. It sells to leading manufacturer brands such as Hitachi, JCB, Bell, Hyster, Palfinger and other similar industries.