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

Wajax Co. (TSE:WJX) hit a new 52-week high on Friday. The stock traded as high as C$35.10 and last traded at C$34.20, with a volume of 28139 shares. The stock had previously closed at C$34.35.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. National Bank Financial increased their target price on Wajax from C$34.00 to C$36.00 and gave the stock an “outperform” rating in a research note on Monday, August 10th. TD lowered their price objective on shares of 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. Finally, Scotiabank decreased their price target on shares of Wajax from C$37.00 to C$36.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 7th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of C$34.80.

Wajax Stock Performance

The company has a quick ratio of 0.71, a current ratio of 1.92 and a debt-to-equity ratio of 66.87. The firm has a 50 day moving average price of C$31.40 and a 200-day moving average price of C$31.10. The stock has a market capitalization of C$748.14 million, a PE ratio of 11.68, a PEG ratio of 0.50 and a beta of 0.40.

Wajax (TSE:WJX) last posted its quarterly earnings results on Thursday, August 6th. The company reported C$0.82 EPS for the quarter. The company had revenue of C$515.67 million during the quarter. Wajax had a net margin of 3.18% and a return on equity of 12.07%. Research analysts expect that Wajax Co. will post 3.4850136 EPS for the current fiscal year.

About Wajax

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.