BMO Capital Markets Cuts Wajax (TSE:WJX) Price Target to C$34.00

Wajax (TSE:WJX) had its price target reduced by BMO Capital Markets from C$40.00 to C$34.00 in a report released on Wednesday,BayStreet.CA reports. BMO Capital Markets currently has a market perform rating on the stock.

Several other research firms also recently commented on WJX. TD Securities raised their price objective on Wajax from C$28.00 to C$34.00 and gave the stock a “hold” rating in a report on Wednesday. Scotiabank upped their target price on Wajax from C$26.00 to C$27.00 in a report on Wednesday, November 5th. Finally, National Bank Financial raised Wajax from a “hold” rating to an “outperform” rating and increased their price target for the stock from C$27.00 to C$37.00 in a research report on Tuesday. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of C$34.75.

Wajax Price Performance

Wajax stock opened at C$33.66 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 stock has a market cap of C$731.97 million, a price-to-earnings ratio of 16.11, a price-to-earnings-growth ratio of 0.50 and a beta of 0.66. The firm has a 50-day moving average of C$29.38 and a two-hundred day moving average of C$26.70. Wajax has a 1 year low of C$15.55 and a 1 year high of C$34.88.

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