Wajax (TSE:WJX) Hits New 52-Week High – Still a Buy?

Wajax Co. (TSE:WJX) reached a new 52-week high during trading on Thursday . The company traded as high as C$30.43 and last traded at C$30.38, with a volume of 54422 shares. The stock had previously closed at C$30.09.

Analyst Ratings Changes

Several analysts recently commented on the stock. Scotiabank increased their price objective on shares of Wajax from C$26.00 to C$27.00 in a research report on Wednesday, November 5th. TD Securities increased their price target on shares of Wajax from C$25.00 to C$28.00 in a report on Wednesday, February 4th. National Bank Financial boosted their price objective on shares of Wajax from C$25.00 to C$27.00 and gave the stock a “sector perform” rating in a report on Monday, December 15th. Finally, BMO Capital Markets increased their target price on Wajax from C$26.00 to C$27.00 in a research note on Wednesday, November 5th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of C$27.25.

Wajax Stock Up 1.0%

The company has a quick ratio of 0.71, a current ratio of 2.10 and a debt-to-equity ratio of 116.61. The company has a fifty day simple moving average of C$28.35 and a 200-day simple moving average of C$25.96. The firm has a market cap of C$660.64 million, a P/E ratio of 14.54, a price-to-earnings-growth ratio of 0.50 and a beta of 0.49.

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.