Wajax (TSE:WJX) Sets New 1-Year High – Should You Buy?

Wajax Co. (TSE:WJX) shares hit a new 52-week high during trading on Thursday. The company traded as high as C$36.86 and last traded at C$36.82, with a volume of 32521 shares trading hands. The stock had previously closed at C$36.42.

Analyst Upgrades and Downgrades

WJX has been the topic of a number of recent research reports. Scotiabank decreased their target price on Wajax from C$37.00 to C$36.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 7th. National Bank Financial upped their price target on Wajax from C$34.00 to C$36.00 and gave the company an “outperform” rating in a report on Monday, August 10th. Stifel Nicolaus set a C$45.00 price objective on Wajax and gave the stock a “buy” rating in a research report on Wednesday. Finally, TD reduced their price objective on Wajax from C$35.00 to C$34.00 and set a “hold” rating for the company in a research report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Wajax has a consensus rating of “Moderate Buy” and a consensus target price of C$36.50.

Wajax Stock Up 3.5%

The company has a quick ratio of 0.71, a current ratio of 1.92 and a debt-to-equity ratio of 66.87. The business has a 50-day simple moving average of C$31.65 and a two-hundred day simple moving average of C$31.26. The stock has a market capitalization of C$853.34 million, a P/E ratio of 13.33, a PEG ratio of 0.50 and a beta of 0.40.

Wajax (TSE:WJX) last issued its quarterly earnings data on Thursday, August 6th. The company reported C$0.82 earnings per share (EPS) for the quarter. Wajax had a return on equity of 12.07% and a net margin of 3.18%.The company had revenue of C$515.67 million during the quarter. Equities research analysts forecast that Wajax Co. will post 3.4850136 earnings per share for the current fiscal 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.