BMO Capital Markets Forecasts Strong Price Appreciation for Wajax (TSE:WJX) Stock

Wajax (TSE:WJX) had its target price boosted by BMO Capital Markets from C$26.00 to C$27.00 in a research report issued on Wednesday,BayStreet.CA reports. BMO Capital Markets’ price target would indicate a potential upside of 1.35% from the company’s current price.

A number of other equities analysts have also weighed in on WJX. TD Securities upped their target price on shares of Wajax from C$24.00 to C$25.00 and gave the stock a “hold” rating in a research report on Monday, August 11th. Scotiabank raised their price target on shares of Wajax from C$26.00 to C$27.00 in a research note on Wednesday. Three equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Wajax currently has a consensus rating of “Hold” and a consensus price target of C$24.75.

Wajax Price Performance

Shares of WJX traded up C$1.58 during mid-day trading on Wednesday, reaching C$26.64. The stock had a trading volume of 103,159 shares, compared to its average volume of 50,526. The company has a debt-to-equity ratio of 116.61, a quick ratio of 0.71 and a current ratio of 2.10. The business has a fifty day moving average of C$23.89 and a 200 day moving average of C$22.89. Wajax has a 12 month low of C$15.55 and a 12 month high of C$26.90. The firm has a market cap of C$579.31 million, a price-to-earnings ratio of 16.34, a PEG ratio of 0.50 and a beta of 0.71.

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.