Wajax (TSE:WJX) Given New C$24.00 Price Target at TD Securities

Wajax (TSE:WJX) had its price objective cut by equities research analysts at TD Securities from C$30.00 to C$24.00 in a research report issued on Wednesday, BayStreet.CA reports. TD Securities’ price target suggests a potential upside of 14.50% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. National Bankshares set a C$26.00 price target on shares of Wajax and gave the stock a “sector perform” rating in a report on Friday, September 27th. BMO Capital Markets cut their price target on shares of Wajax from C$32.00 to C$30.00 in a research report on Wednesday, July 24th. National Bank Financial raised shares of Wajax to a “hold” rating in a research note on Thursday, September 26th. Finally, Scotiabank set a C$29.00 price objective on shares of Wajax and gave the stock a “sector perform” rating in a report on Wednesday, August 21st. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Wajax currently has an average rating of “Hold” and a consensus price target of C$24.50.

Wajax Price Performance

WJX stock traded up C$0.37 during mid-day trading on Wednesday, hitting C$20.96. The stock had a trading volume of 109,449 shares, compared to its average volume of 35,057. The firm has a market capitalization of C$455.46 million, a P/E ratio of 6.64, a P/E/G ratio of 0.50 and a beta of 1.80. The company has a current ratio of 1.91, a quick ratio of 0.71 and a debt-to-equity ratio of 103.38. The firm has a fifty day simple moving average of C$25.11 and a 200 day simple moving average of C$26.12. Wajax has a 52 week low of C$20.44 and a 52 week high of C$34.96.

Wajax (TSE:WJX) last issued its quarterly earnings data on Thursday, August 8th. The company reported C$1.06 earnings per share (EPS) for the quarter. The company had revenue of C$568.30 million during the quarter. Wajax had a return on equity of 14.06% and a net margin of 3.32%. As a group, research analysts forecast that Wajax will post 3.4850136 EPS for the current year.

About Wajax

Wajax Corporation provides equipment, parts, and services to construction, forestry, mining, industrial and commercial, oil sands, transportation, metal processing, government, utilities, and oil and gas sectors. The company offers compact excavators, dump trucks, excavators, wheel loaders, and wheeled excavators; aerial devices, boom lifts, cranes, digger derricks, drills, lifts, and material and scissor lifts; marine, off and on highway engines, and transmissions; and feller bunchers, felling heads, flail debarkers, forwarders, grinders, harvesting heads, log loaders, mulchers, skidders, track and wheel harvesters, and woodchippers.