Wajax (TSE:WJX) Reaches New 52-Week High – What’s Next?

Wajax Co. (TSE:WJX)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as C$27.65 and last traded at C$27.30, with a volume of 22398 shares. The stock had previously closed at C$26.95.

Analysts Set New Price Targets

Several brokerages have recently weighed in on WJX. TD Securities raised their target price on Wajax from C$24.00 to C$25.00 and gave the company a “hold” rating in a research note on Monday, August 11th. Scotiabank lifted their target price on Wajax from C$26.00 to C$27.00 in a research note on Wednesday, November 5th. Finally, BMO Capital Markets upped their target price on shares of Wajax from C$26.00 to C$27.00 in a research report on Wednesday, November 5th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of C$24.75.

Wajax Stock Performance

The stock has a market cap of C$581.27 million, a price-to-earnings ratio of 12.79, a P/E/G ratio of 0.50 and a beta of 0.71. The company has a current ratio of 2.10, a quick ratio of 0.71 and a debt-to-equity ratio of 116.61. The firm has a fifty day simple moving average of C$24.56 and a 200-day simple moving average of C$23.58.

Wajax (TSE:WJX) last announced its quarterly earnings results on Monday, November 3rd. The company reported C$0.75 earnings per share for the quarter. The business had revenue of C$483.15 million for the quarter. Wajax had a net margin of 2.55% and a return on equity of 10.40%. Analysts forecast that Wajax Co. will post 3.4850136 EPS for the current fiscal 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.