Wajax (TSE:WJX) Hits New 1-Year High – Here’s Why

Shares of Wajax Co. (TSE:WJX) hit a new 52-week high on Wednesday . The stock traded as high as C$28.92 and last traded at C$28.88, with a volume of 5292 shares trading hands. The stock had previously closed at C$28.64.

Analysts Set New Price Targets

Several brokerages have recently weighed in on WJX. Scotiabank increased their price objective on shares of Wajax from C$26.00 to C$27.00 in a report on Wednesday, November 5th. BMO Capital Markets upped their target price on Wajax from C$26.00 to C$27.00 in a research report on Wednesday, November 5th. Finally, National Bankshares lifted their price target on shares of Wajax from C$25.00 to C$27.00 and gave the stock a “sector perform” rating in a research note on Monday, December 15th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Wajax has a consensus rating of “Hold” and a consensus price target of C$26.50.

Wajax Price Performance

The company has a 50 day moving average of C$27.53 and a two-hundred day moving average of C$24.97. The firm has a market cap of C$623.02 million, a P/E ratio of 13.71, a PEG ratio of 0.50 and a beta of 0.67. The company has a quick ratio of 0.71, a current ratio of 2.10 and a debt-to-equity ratio of 116.61.

Wajax (TSE:WJX) last released its quarterly earnings data on Monday, November 3rd. The company reported C$0.75 earnings per share for the quarter. The business had revenue of C$483.15 million during the quarter. Wajax had a return on equity of 10.40% and a net margin of 2.55%. Sell-side analysts expect 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.