Stifel Nicolaus Analysts Give Wajax (TSE:WJX) a C$45.00 Price Target

Stifel Nicolaus set a C$45.00 price target on Wajax (TSE:WJX) in a report released on Wednesday,BayStreet reports. The brokerage currently has a buy rating on the stock.

Several other research firms also recently commented on WJX. 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 note on Monday, August 10th. National Bank Financial lifted their target price on Wajax from C$34.00 to C$36.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. Finally, Scotiabank dropped their target price on Wajax from C$37.00 to C$36.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$36.50.

Wajax Price Performance

Shares of TSE:WJX opened at C$39.18 on Wednesday. The company has a 50-day simple moving average of C$31.65 and a 200-day simple moving average of C$31.26. Wajax has a one year low of C$22.43 and a one year high of C$39.35. The company has a debt-to-equity ratio of 66.87, a quick ratio of 0.71 and a current ratio of 1.92. The stock has a market capitalization of C$853.34 million, a price-to-earnings ratio of 13.33, a PEG ratio of 0.50 and a beta of 0.40.

Wajax (TSE:WJX) last announced its earnings results on Thursday, August 6th. The company reported C$0.82 earnings per share for the quarter. Wajax had a net margin of 3.18% and a return on equity of 12.07%. The business had revenue of C$515.67 million during the quarter. On average, analysts predict that Wajax will post 3.4850136 EPS 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. It sells to leading manufacturer brands such as Hitachi, JCB, Bell, Hyster, Palfinger and other similar industries.