Wajax (TSE:WJX) Sets New 12-Month High – What’s Next?

Wajax Co. (TSE:WJX)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as C$32.20 and last traded at C$31.40, with a volume of 41077 shares changing hands. The stock had previously closed at C$31.60.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Scotiabank upped their target price on shares of Wajax from C$26.00 to C$27.00 in a research report on Wednesday, November 5th. National Bank Financial upped their price target on Wajax from C$25.00 to C$27.00 and gave the company a “sector perform” rating in a research note on Monday, December 15th. TD Securities boosted their price target on Wajax from C$25.00 to C$28.00 in a report on Wednesday, February 4th. Finally, BMO Capital Markets lifted their price objective on shares of Wajax from C$26.00 to C$27.00 in a report on Wednesday, November 5th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Wajax currently has a consensus rating of “Hold” and a consensus target price of C$27.25.

Wajax Stock Up 2.1%

The stock has a market capitalization of C$701.53 million, a P/E ratio of 15.44, a PEG ratio of 0.50 and a beta of 0.49. The company has a quick ratio of 0.71, a current ratio of 2.22 and a debt-to-equity ratio of 90.28. The firm has a 50 day simple moving average of C$28.88 and a two-hundred day simple moving average of C$26.45.

Wajax (TSE:WJX) last issued its earnings results on Monday, March 2nd. The company reported C$0.71 earnings per share (EPS) for the quarter. Wajax had a return on equity of 8.91% and a net margin of 2.16%.The business had revenue of C$560.05 million during the quarter. On average, equities research 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.