Wajax (TSE:WJX) Stock Price Expected to Rise, National Bank Financial Analyst Says

Wajax (TSE:WJX) had its price objective lifted by National Bank Financial from C$36.00 to C$42.00 in a research report issued on Thursday, BayStreet reports. The brokerage currently has an “outperform” rating on the stock. National Bank Financial’s price target would suggest a potential upside of 10.29% from the stock’s current price.

A number of other equities research analysts also recently weighed in on WJX. Stifel Nicolaus set a C$45.00 price objective on Wajax and gave the company a “buy” rating in a report on Wednesday, September 30th. TD lowered their price objective on Wajax from C$35.00 to C$34.00 and set a “hold” rating on the stock 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 for the company in a report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$37.50.

Wajax Price Performance

Shares of Wajax stock traded up C$1.03 during trading on Thursday, hitting C$38.08. 32,027 shares of the company’s stock traded hands, compared to its average volume of 69,251. The company has a market cap of C$829.38 million, a PE ratio of 12.95, a PEG ratio of 0.50 and a beta of 0.18. The firm’s fifty day moving average price is C$32.27 and its 200 day moving average price is C$31.54. Wajax has a twelve month low of C$22.43 and a twelve month high of C$40.00. The company has a debt-to-equity ratio of 66.87, a current ratio of 1.92 and a quick ratio of 0.71.

Wajax (TSE:WJX) last posted its quarterly earnings results on Thursday, August 6th. The company reported C$0.82 earnings per share (EPS) for the quarter. Wajax had a net margin of 3.18% and a return on equity of 12.07%. The firm had revenue of C$515.67 million during the quarter. Analysts forecast that Wajax will post 3.49 earnings per share 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.