Wajax (TSE:WJX) Price Target Cut to C$34.00 by Analysts at BMO Capital Markets

Wajax (TSE:WJX) had its target price decreased by equities researchers at BMO Capital Markets from C$40.00 to C$34.00 in a report released on Wednesday,BayStreet.CA reports. The brokerage presently has a “market perform” rating on the stock. BMO Capital Markets’ price target would indicate a potential upside of 0.59% from the stock’s previous close.

Several other analysts have also recently commented on the stock. Scotiabank lifted their target price on shares of Wajax from C$26.00 to C$27.00 in a research note on Wednesday, November 5th. National Bank Financial upgraded Wajax from a “hold” rating to an “outperform” rating and increased their target price for the stock from C$27.00 to C$37.00 in a research report on Tuesday. Finally, TD Securities lifted their price target on Wajax from C$28.00 to C$34.00 and gave the company a “hold” rating in a report on Wednesday. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of C$34.75.

Wajax Price Performance

Shares of TSE:WJX traded up C$0.03 on Wednesday, hitting C$33.80. The company had a trading volume of 97,132 shares, compared to its average volume of 44,098. The company has a current ratio of 2.22, a quick ratio of 0.71 and a debt-to-equity ratio of 90.28. The company has a market cap of C$735.01 million, a PE ratio of 16.17, a PEG ratio of 0.50 and a beta of 0.49. Wajax has a 52-week low of C$15.55 and a 52-week high of C$34.20. The business has a 50 day moving average of C$29.00 and a 200 day moving average of C$26.52.

Wajax (TSE:WJX) last announced its earnings results on Tuesday, March 3rd. The company reported C$0.71 earnings per share for the quarter. The firm had revenue of C$560.05 million during the quarter. Wajax had a net margin of 2.16% and a return on equity of 8.91%. As a group, equities analysts anticipate that Wajax will post 3.4850136 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.