Wajax (TSE:WJX) Price Target Raised to C$36.00

Wajax (TSE:WJX) had its target price hoisted by analysts at National Bank Financial from C$34.00 to C$36.00 in a report released on Monday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. National Bank Financial’s price objective would indicate a potential upside of 13.64% from the stock’s current price.

A number of other research firms have also weighed in on WJX. TD dropped their price target on shares of Wajax from C$35.00 to C$33.00 and set a “hold” rating for the company in a research report on Wednesday, May 6th. Scotiabank decreased their price objective on shares of Wajax from C$37.00 to C$36.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 7th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of C$34.80.

Wajax Stock Performance

Shares of WJX stock traded up C$0.34 during trading hours on Monday, reaching C$31.68. 78,221 shares of the company traded hands, compared to its average volume of 68,448. Wajax has a 12-month low of C$21.96 and a 12-month high of C$35.00. The company has a debt-to-equity ratio of 72.41, a current ratio of 1.88 and a quick ratio of 0.71. The company has a market cap of C$689.99 million, a P/E ratio of 11.35, a P/E/G ratio of 0.50 and a beta of 0.44. The firm has a 50-day moving average price of C$31.49 and a 200 day moving average price of C$31.01.

Wajax (TSE:WJX) last released its earnings results on Thursday, August 6th. The company reported C$0.82 earnings per share (EPS) for the quarter. Wajax had a net margin of 2.97% and a return on equity of 11.63%. The company had revenue of C$515.67 million during the quarter. As a group, sell-side analysts predict that Wajax will post 3.4850136 earnings per share for the current fiscal year.

Insider Activity

In other Wajax news, Director Jane Craighead bought 1,100 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were bought at an average price of C$28.84 per share, with a total value of C$31,724.00. Following the purchase, the director owned 11,900 shares of the company’s stock, valued at C$343,196. This trade represents a 10.19% increase in their ownership of the stock. Corporate insiders own 0.97% of the company’s stock.

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.