TD Securities Forecasts Strong Price Appreciation for Wajax (TSE:WJX) Stock

Wajax (TSE:WJX) had its price objective upped by stock analysts at TD Securities from C$28.00 to C$34.00 in a research report issued on Wednesday,BayStreet.CA reports. The firm presently has a “hold” rating on the stock. TD Securities’ target price would indicate a potential upside of 0.59% from the stock’s current price.

A number of other research firms have also commented on WJX. National Bank Financial raised Wajax from a “hold” rating to an “outperform” rating and upped their price target for the company from C$27.00 to C$37.00 in a research report on Tuesday. Scotiabank raised their price target on Wajax from C$26.00 to C$27.00 in a research note on Wednesday, November 5th. Finally, BMO Capital Markets lifted their price target on shares of Wajax from C$26.00 to C$27.00 in a report on Wednesday, November 5th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of C$34.75.

Wajax Trading Up 0.1%

Wajax stock traded up C$0.03 during trading hours on Wednesday, reaching C$33.80. The company had a trading volume of 97,132 shares, compared to its average volume of 44,098. The company has a debt-to-equity ratio of 90.28, a current ratio of 2.22 and a quick ratio of 0.71. Wajax has a 12-month low of C$15.55 and a 12-month high of C$34.20. The company has a 50-day moving average price of C$29.00 and a 200 day moving average price of C$26.52. The firm has a market cap of C$735.01 million, a price-to-earnings ratio of 16.17, a P/E/G ratio of 0.50 and a beta of 0.49.

Wajax (TSE:WJX) last issued its earnings results on Tuesday, March 3rd. The company reported C$0.71 EPS for the quarter. The company had revenue of C$560.05 million for the quarter. Wajax had a net margin of 2.16% and a return on equity of 8.91%. Equities analysts forecast that Wajax will post 3.4850136 earnings per share for the current year.

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.