Wajax (TSE:WJX) Sets New 12-Month High – Still a Buy?

Shares of Wajax Co. (TSE:WJX) hit a new 52-week high during trading on Tuesday . The stock traded as high as C$29.50 and last traded at C$29.40, with a volume of 29618 shares. The stock had previously closed at C$28.67.

Wall Street Analysts Forecast Growth

WJX has been the subject of several research analyst reports. BMO Capital Markets upped their price target on shares of Wajax from C$26.00 to C$27.00 in a report on Wednesday, November 5th. National Bankshares increased their target price on 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, Scotiabank boosted their price target on Wajax from C$26.00 to C$27.00 in a report on Wednesday, November 5th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Wajax currently has an average rating of “Hold” and a consensus price target of C$26.50.

Wajax Stock Performance

The stock’s 50 day moving average price is C$27.91 and its 200 day moving average price is C$25.47. The company has a current ratio of 2.10, a quick ratio of 0.71 and a debt-to-equity ratio of 116.61. The company has a market capitalization of C$636.07 million, a price-to-earnings ratio of 14.00, a P/E/G ratio of 0.50 and a beta of 0.67.

Wajax (TSE:WJX) last released its earnings results on Monday, November 3rd. The company reported C$0.75 earnings per share (EPS) for the quarter. Wajax had a return on equity of 10.40% and a net margin of 2.55%.The business had revenue of C$483.15 million for the quarter. Analysts expect that Wajax Co. will post 3.4850136 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.