Wajax (TSE:WJX) Hits New 12-Month High – What’s Next?

Wajax Co. (TSE:WJX) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$31.41 and last traded at C$31.41, with a volume of 64414 shares. The stock had previously closed at C$30.90.

Wall Street Analyst Weigh In

WJX has been the topic of a number of research analyst reports. Scotiabank boosted their price objective on shares of Wajax from C$26.00 to C$27.00 in a report on Wednesday, November 5th. BMO Capital Markets lifted their price target on Wajax from C$26.00 to C$27.00 in a research report on Wednesday, November 5th. TD Securities increased their price objective on Wajax from C$25.00 to C$28.00 in a report on Wednesday, February 4th. Finally, National Bank Financial raised their price objective on Wajax from C$25.00 to C$27.00 and gave the stock a “sector perform” rating in a research note on Monday, December 15th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of C$27.25.

Wajax Trading Up 1.7%

The company has a current ratio of 2.10, a quick ratio of 0.71 and a debt-to-equity ratio of 116.61. The firm has a market cap of C$683.04 million, a price-to-earnings ratio of 15.03, a PEG ratio of 0.50 and a beta of 0.49. The company has a fifty day moving average price of C$28.57 and a 200-day moving average price of C$26.19.

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.