Wajax (TSE:WJX) Upgraded at TD

TD upgraded shares of Wajax (TSE:WJX) from a hold rating to a buy rating in a research note released on Wednesday,BayStreet reports. They currently have C$41.00 price target on the stock.

Several other equities research analysts have also recently issued reports on the stock. Stifel Nicolaus set a C$45.00 target price on shares of Wajax and gave the stock a “buy” rating in a research note on Wednesday, September 30th. Scotiabank cut their price objective on Wajax from C$37.00 to C$36.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 7th. Finally, National Bank Financial boosted their target price on Wajax from C$36.00 to C$42.00 and gave the company an “outperform” rating in a research report on Thursday, October 15th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of C$38.67.

Wajax Stock Performance

Shares of WJX stock traded down C$0.26 on Wednesday, hitting C$32.55. 62,957 shares of the stock were exchanged, compared to its average volume of 70,608. The firm has a market capitalization of C$708.94 million, a PE ratio of 11.92, a P/E/G ratio of 0.50 and a beta of 0.19. Wajax has a one year low of C$26.08 and a one year high of C$40.00. The firm’s 50 day moving average is C$33.93 and its two-hundred day moving average is C$31.72. The company has a current ratio of 2.03, a quick ratio of 0.71 and a debt-to-equity ratio of 73.68.

Wajax (TSE:WJX) last released its quarterly earnings results on Monday, November 2nd. The company reported C$0.59 earnings per share (EPS) for the quarter. The firm had revenue of C$477.80 million for the quarter. Wajax had a net margin of 2.96% and a return on equity of 11.04%. Sell-side analysts expect that Wajax will post 3.49 earnings per share for the current fiscal 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.