TD Issues Pessimistic Forecast for Wajax (TSE:WJX) Stock Price

Wajax (TSE:WJX) had its target price cut by TD from C$35.00 to C$33.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has a “hold” rating on the stock. TD’s price target suggests a potential upside of 12.40% from the stock’s current price.

WJX has been the topic of a number of other reports. BMO Capital Markets reduced their price target on Wajax from C$40.00 to C$34.00 and set a “market perform” rating on the stock in a research report on Wednesday, March 4th. National Bank Financial raised shares of Wajax from a “hold” rating to an “outperform” rating and boosted their price objective for the company from C$27.00 to C$37.00 in a report on Tuesday, March 3rd. TD Securities boosted their price objective on shares of Wajax from C$28.00 to C$34.00 and gave the company a “hold” rating in a report on Wednesday, March 4th. Finally, Scotiabank dropped their price objective on shares of Wajax from C$38.00 to C$37.00 and set a “sector perform” rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of C$34.40.

Wajax Stock Up 0.2%

TSE:WJX traded up C$0.06 during trading hours on Wednesday, reaching C$29.36. The company’s stock had a trading volume of 185,452 shares, compared to its average volume of 61,493. The company has a market capitalization of C$640.58 million, a P/E ratio of 11.38, a price-to-earnings-growth ratio of 0.50 and a beta of 0.59. Wajax has a 12 month low of C$20.61 and a 12 month high of C$34.88. The company has a debt-to-equity ratio of 78.49, a quick ratio of 0.71 and a current ratio of 2.14. The stock has a 50 day moving average price of C$32.29 and a two-hundred day moving average price of C$29.14.

Wajax (TSE:WJX) last issued its quarterly earnings data on Monday, May 4th. The company reported C$0.65 EPS for the quarter. The company had revenue of C$502.07 million during the quarter. Wajax had a net margin of 2.68% and a return on equity of 10.91%. Equities analysts predict that Wajax will post 3.4850136 EPS for the current fiscal 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.