Wajax (TSE:WJX) Sets New 1-Year High – What’s Next?

Shares of Wajax Co. (TSE:WJX) hit a new 52-week high during trading on Friday . The company traded as high as C$29.66 and last traded at C$29.55, with a volume of 26240 shares traded. The stock had previously closed at C$28.77.

Analysts Set New Price Targets

Several research analysts recently commented on WJX shares. TD Securities raised their target price on Wajax from C$25.00 to C$28.00 in a research report on Wednesday, February 4th. National Bank Financial raised 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. BMO Capital Markets upped their target price on shares of Wajax from C$26.00 to C$27.00 in a research note on Wednesday, November 5th. Finally, Scotiabank raised their target price on Wajax from C$26.00 to C$27.00 in a research report on Wednesday, November 5th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of C$27.25.

Wajax Stock Up 3.5%

The firm’s 50 day moving average price is C$28.16 and its 200-day moving average price is C$25.77. 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 cap of C$647.81 million, a P/E ratio of 14.25, a price-to-earnings-growth ratio of 0.50 and a beta of 0.49.

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