Wajax (TSE:WJX) Given New C$34.00 Price Target at TD

Wajax (TSE:WJX) had its price target decreased by equities research analysts at TD from C$35.00 to C$34.00 in a report released on Monday,BayStreet.CA reports. The firm presently has a “hold” rating on the stock. TD’s price target would suggest a potential upside of 7.32% from the stock’s previous close.

Several other research firms have also recently commented on WJX. Scotiabank reduced their target price on shares of Wajax from C$37.00 to C$36.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 7th. National Bank Financial boosted their price target on shares of Wajax from C$34.00 to C$36.00 and gave the stock an “outperform” rating in a research note on Monday. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of C$34.80.

Wajax Stock Performance

Shares of TSE:WJX traded up C$0.34 during trading on Monday, reaching C$31.68. The company had a trading volume of 78,221 shares, compared to its average volume of 68,448. Wajax has a fifty-two week low of C$21.96 and a fifty-two week high of C$35.00. The company has a debt-to-equity ratio of 72.41, a current ratio of 1.88 and a quick ratio of 0.71. The stock’s fifty day moving average price is C$31.49 and its 200 day moving average price is C$31.01. The firm has a market capitalization of C$689.99 million, a price-to-earnings ratio of 11.35, a price-to-earnings-growth ratio of 0.50 and a beta of 0.44.

Wajax (TSE:WJX) last issued its quarterly earnings results on Thursday, August 6th. The company reported C$0.82 earnings per share for the quarter. Wajax had a return on equity of 11.63% and a net margin of 2.97%.The firm had revenue of C$515.67 million during the quarter. As a group, equities research analysts predict that Wajax will post 3.4850136 EPS for the current year.

Insiders Place Their Bets

In related news, Director Jane Craighead bought 1,100 shares of the stock in a transaction on Tuesday, May 26th. The shares were bought at an average cost of C$28.84 per share, for a total transaction of C$31,724.00. Following the completion of the transaction, the director owned 11,900 shares of the company’s stock, valued at C$343,196. This represents a 10.19% increase in their position. Insiders own 0.97% of the company’s stock.

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. It sells to leading manufacturer brands such as Hitachi, JCB, Bell, Hyster, Palfinger and other similar industries.