Wajax (TSE:WJX) Hits New 1-Year Low – Here’s What Happened

Wajax Co. (TSE:WJX) shares reached a new 52-week low on Friday . The stock traded as low as C$16.40 and last traded at C$16.52, with a volume of 105274 shares. The stock had previously closed at C$17.34.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. TD Securities dropped their target price on shares of Wajax from C$24.00 to C$22.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Scotiabank lowered Wajax from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from C$24.00 to C$22.00 in a research report on Wednesday, March 5th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of C$23.50.

Wajax Stock Performance

The firm has a market cap of C$364.31 million, a P/E ratio of 6.83, a PEG ratio of 0.50 and a beta of 1.80. The company has a current ratio of 2.10, a quick ratio of 0.71 and a debt-to-equity ratio of 116.61. The company’s 50-day moving average is C$19.28 and its two-hundred day moving average is C$21.76.

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.