National Bankshares Issues Pessimistic Forecast for Wajax (TSE:WJX) Stock Price

Wajax (TSE:WJX) had its target price dropped by National Bankshares from C$22.00 to C$20.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the stock. National Bankshares’ target price points to a potential upside of 20.05% from the stock’s current price.

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

Wajax Stock Up 5.7 %

Shares of WJX traded up C$0.90 during trading hours on Wednesday, hitting C$16.66. 73,334 shares of the company were exchanged, compared to its average volume of 70,075. The firm’s 50 day moving average is C$18.83 and its 200-day moving average is C$21.52. The company has a debt-to-equity ratio of 116.61, a quick ratio of 0.71 and a current ratio of 2.10. Wajax has a 52 week low of C$15.55 and a 52 week high of C$34.70. The company has a market cap of C$364.10 million, a PE ratio of 6.83, a PEG ratio of 0.50 and a beta of 1.80.

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.