Wajax (TSE:WJX) Hits New 52-Week High – Here’s What Happened

Wajax Co. (TSE:WJX)’s stock price hit a new 52-week high during mid-day trading on Friday. The company traded as high as C$35.10 and last traded at C$34.20, with a volume of 28139 shares changing hands. The stock had previously closed at C$34.35.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on WJX shares. TD lowered their target price on Wajax from C$35.00 to C$34.00 and set a “hold” rating on the stock in a research note on Monday, August 10th. Scotiabank dropped their price objective on Wajax from C$37.00 to C$36.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 7th. Finally, National Bank Financial raised their price objective on shares of Wajax from C$34.00 to C$36.00 and gave the company an “outperform” rating in a research report on Monday, August 10th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of C$34.80.

Wajax Stock Performance

The company has a debt-to-equity ratio of 66.87, a quick ratio of 0.71 and a current ratio of 1.92. The company has a market cap of C$748.14 million, a P/E ratio of 11.68, a P/E/G ratio of 0.50 and a beta of 0.40. The stock’s fifty day moving average price is C$31.40 and its two-hundred day moving average price is C$31.10.

Wajax (TSE:WJX) last issued its earnings results on Thursday, August 6th. The company reported C$0.82 EPS for the quarter. The firm had revenue of C$515.67 million during the quarter. Wajax had a return on equity of 12.07% and a net margin of 3.18%. As a group, equities analysts predict that Wajax Co. will post 3.4850136 earnings per share for the current year.

Wajax Company Profile

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.