Wajax (TSE:WJX) Reaches New 12-Month High – What’s Next?

Shares of Wajax Co. (TSE:WJX) reached a new 52-week high during mid-day trading on Monday . The company traded as high as C$27.55 and last traded at C$27.46, with a volume of 4811 shares trading hands. The stock had previously closed at C$27.23.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on WJX shares. Scotiabank boosted their price target on Wajax from C$26.00 to C$27.00 in a report on Wednesday, November 5th. TD Securities raised their price target on Wajax from C$24.00 to C$25.00 and gave the company a “hold” rating in a research report on Monday, August 11th. Finally, BMO Capital Markets upped their price objective on Wajax from C$26.00 to C$27.00 in a research note on Wednesday, November 5th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Wajax currently has an average rating of “Hold” and a consensus target price of C$24.75.

Wajax Stock Up 1.0%

The company has a market capitalization of C$598.23 million, a price-to-earnings ratio of 13.16, a P/E/G ratio of 0.50 and a beta of 0.71. The stock’s fifty day moving average price is C$24.07 and its 200-day moving average price is C$23.10. 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 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.