Wajax Co. (TSE:WJX) Stock Rated “Moderate Buy” by Wall Street Brokerages

Wajax Co. (TSE:WJX) has been assigned an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is C$36.50.

A number of equities analysts have commented on WJX shares. Scotiabank reduced their price target 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. National Bank Financial raised their price objective on shares of Wajax from C$34.00 to C$36.00 and gave the stock an “outperform” rating in a report on Monday, August 10th. TD cut their target price on shares of Wajax from C$35.00 to C$34.00 and set a “hold” rating for the company in a research note on Monday, August 10th. Finally, Stifel Nicolaus set a C$45.00 target price on Wajax and gave the stock a “buy” rating in a report on Wednesday, September 30th.

Wajax Stock Up 2.7%

Shares of TSE WJX opened at C$39.60 on Wednesday. The stock has a market cap of C$862.49 million, a PE ratio of 13.47, a PEG ratio of 0.50 and a beta of 0.18. The business has a fifty day moving average of C$31.90 and a two-hundred day moving average of C$31.34. Wajax has a 52-week low of C$22.43 and a 52-week high of C$40.00. The company has a debt-to-equity ratio of 66.87, a quick ratio of 0.71 and a current ratio of 1.92.

Wajax (TSE:WJX) last posted its earnings results on Thursday, August 6th. The company reported C$0.82 earnings per share for the quarter. The business had revenue of C$515.67 million for the quarter. Wajax had a net margin of 3.18% and a return on equity of 12.07%. As a group, equities research analysts expect that Wajax will post 3.4850136 earnings per share 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.