Wajax (TSE:WJX) Sets New 52-Week Low – Here’s Why

Wajax Co. (TSE:WJX) shares reached a new 52-week low on Wednesday . The company traded as low as C$20.32 and last traded at C$20.44, with a volume of 86428 shares changing hands. The stock had previously closed at C$20.95.

Analysts Set New Price Targets

Several research firms have issued reports on WJX. Scotiabank decreased their price objective on shares of Wajax from C$29.00 to C$24.00 in a report on Wednesday, November 6th. TD Securities lowered their price objective on Wajax from C$30.00 to C$24.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. BMO Capital Markets reduced their target price on Wajax from C$28.00 to C$24.00 in a report on Wednesday, November 6th. National Bankshares set a C$26.00 price target on Wajax and gave the stock a “sector perform” rating in a research note on Friday, September 27th. Finally, National Bank Financial raised Wajax to a “hold” rating in a research note on Thursday, September 26th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of C$24.50.

Wajax Trading Down 2.4 %

The firm has a market cap of C$444.16 million, a price-to-earnings ratio of 6.53, a P/E/G ratio of 0.50 and a beta of 1.80. The company’s 50 day simple moving average is C$22.04 and its 200 day simple moving average is C$24.22. The company has a debt-to-equity ratio of 103.38, a current ratio of 1.91 and a quick ratio of 0.71.

Wajax Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 6.85%. The ex-dividend date was Monday, December 16th. Wajax’s dividend payout ratio (DPR) is presently 44.73%.

Wajax Company Profile

Wajax Corporation provides equipment, parts, and services to construction, forestry, mining, industrial and commercial, oil sands, transportation, metal processing, government, utilities, and oil and gas sectors. The company offers compact excavators, dump trucks, excavators, wheel loaders, and wheeled excavators; aerial devices, boom lifts, cranes, digger derricks, drills, lifts, and material and scissor lifts; marine, off and on highway engines, and transmissions; and feller bunchers, felling heads, flail debarkers, forwarders, grinders, harvesting heads, log loaders, mulchers, skidders, track and wheel harvesters, and woodchippers.