Wajax (TSE:WJX) Sets New 52-Week High Following Analyst Upgrade

Shares of Wajax Co. (TSE:WJX) hit a new 52-week high during trading on Tuesday after National Bankshares raised their price target on the stock from C$25.00 to C$27.00. National Bankshares currently has a sector perform rating on the stock. Wajax traded as high as C$28.57 and last traded at C$28.45, with a volume of 2582 shares. The stock had previously closed at C$27.87.

Several other research firms also recently weighed in on WJX. Scotiabank boosted their price objective on Wajax from C$26.00 to C$27.00 in a report on Wednesday, November 5th. BMO Capital Markets upped their target price on Wajax from C$26.00 to C$27.00 in a report on Wednesday, November 5th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of C$26.50.

Wajax Stock Performance

The stock has a market cap of C$617.37 million, a PE ratio of 13.58, a price-to-earnings-growth ratio of 0.50 and a beta of 0.67. The firm has a 50 day moving average price of C$25.85 and a 200 day moving average price of C$24.21. 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 (TSE:WJX) last posted its earnings results on Monday, November 3rd. The company reported C$0.75 earnings per share (EPS) for the quarter. Wajax had a net margin of 2.55% and a return on equity of 10.40%. The business had revenue of C$483.15 million for the quarter. As a group, research analysts forecast that Wajax Co. will post 3.4850136 earnings per share for the current 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.