Wajax (TSE:WJX) Upgraded to “Buy” at TD

Wajax (TSE:WJX) was upgraded by research analysts at TD from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, BayStreet reports. The firm presently has a C$41.00 price objective on the stock. TD‘s price objective indicates a potential upside of 18.74% from the company’s current price.

A number of other equities research analysts have also recently commented on WJX. Stifel Nicolaus set a C$45.00 price target on Wajax and gave the company a “buy” rating in a research note on Wednesday, September 30th. National Bank Financial boosted their price target on Wajax from C$36.00 to C$42.00 and gave the stock an “outperform” rating in a research note on Thursday, October 15th. Finally, Scotiabank cut their price objective on shares of 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 analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$38.67.

Wajax Stock Up 5.1%

Shares of WJX stock traded up C$1.66 during mid-day trading on Wednesday, hitting C$34.53. The stock had a trading volume of 167,253 shares, compared to its average volume of 69,953. Wajax has a 12-month low of C$24.86 and a 12-month high of C$40.00. The firm has a market capitalization of C$752.06 million, a P/E ratio of 11.74, a price-to-earnings-growth ratio of 0.50 and a beta of 0.19. The firm’s 50-day moving average is C$33.71 and its two-hundred day moving average is C$31.64. 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 earnings results on Monday, November 2nd. The company reported C$0.59 earnings per share 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$477.80 million during the quarter. On average, analysts predict that Wajax will post 3.49 earnings per share for the current fiscal 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.