Wajax (TSE:WJX) Sets New 12-Month High – Time to Buy?

Wajax Co. (TSE:WJX) shares hit a new 52-week high during trading on Wednesday. The stock traded as high as C$40.00 and last traded at C$39.60, with a volume of 170282 shares trading hands. The stock had previously closed at C$38.56.

Wall Street Analyst Weigh In

WJX has been the topic of a number of research analyst reports. Scotiabank reduced their target price on Wajax from C$37.00 to C$36.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 7th. National Bank Financial boosted their price target on Wajax from C$34.00 to C$36.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. Stifel Nicolaus set a C$45.00 price target on Wajax and gave the stock a “buy” rating in a report on Wednesday, September 30th. Finally, TD dropped their price objective on Wajax from C$35.00 to C$34.00 and set a “hold” rating for the company in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$36.50.

Wajax Stock Down 0.9%

The company has a market capitalization of C$776.46 million, a P/E ratio of 12.13, a price-to-earnings-growth ratio of 0.50 and a beta of 0.18. The company has a debt-to-equity ratio of 66.87, a quick ratio of 0.71 and a current ratio of 1.92. The firm’s fifty day moving average is C$32.03 and its 200-day moving average is C$31.41.

Wajax (TSE:WJX) last issued its quarterly earnings data on Thursday, August 6th. The company reported C$0.82 EPS for the quarter. Wajax had a net margin of 3.18% and a return on equity of 12.07%. The business had revenue of C$515.67 million during the quarter. As a group, equities research analysts predict that Wajax Co. will post 3.4850136 EPS for the current year.

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.