Wajax (TSE:WJX) Upgraded to Strong-Buy at TD Securities

Wajax (TSE:WJX) was upgraded by equities researchers at TD Securities from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday, Zacks reports.

Other analysts have also issued reports about the stock. TD upgraded shares of Wajax from a “hold” rating to a “buy” rating and set a C$41.00 price target on the stock in a research report on Wednesday. Stifel Nicolaus set a C$45.00 price objective on Wajax and gave the stock a “buy” rating in a research report on Wednesday, September 30th. National Bank Financial upped their target price on Wajax from C$36.00 to C$42.00 and gave the company an “outperform” rating in a research note on Thursday, October 15th. Finally, Scotiabank reduced 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 note on Tuesday, July 7th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of C$38.67.

Wajax Price Performance

Shares of WJX opened at C$34.02 on Wednesday. The company has a current ratio of 2.03, a quick ratio of 0.71 and a debt-to-equity ratio of 73.68. The stock’s 50 day moving average is C$33.80 and its two-hundred day moving average is C$31.67. Wajax has a twelve month low of C$24.86 and a twelve month high of C$40.00. The firm has a market capitalization of C$740.96 million, a PE ratio of 11.57, a P/E/G ratio of 0.50 and a beta of 0.19.

Wajax (TSE:WJX) last announced its quarterly earnings results on Monday, November 2nd. The company reported C$0.59 earnings per share (EPS) for the quarter. Wajax had a net margin of 2.96% and a return on equity of 11.04%. The business had revenue of C$477.80 million during the quarter. Research analysts anticipate 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.