Wajax (TSE:WJX) Upgraded to “Strong-Buy” at TD Securities

TD Securities upgraded shares of Wajax (TSE:WJX) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday morning,Zacks reports.

Other equities research analysts also recently issued reports about the company. TD raised Wajax from a “hold” rating to a “buy” rating and set a C$41.00 price target on the stock in a research report on Wednesday. Stifel Nicolaus set a C$45.00 price objective on Wajax and gave the stock a “buy” rating in a research report on Wednesday, September 30th. Scotiabank decreased their target price on Wajax from C$37.00 to C$36.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 7th. Finally, National Bank Financial raised their target price on Wajax from C$36.00 to C$42.00 and gave the company an “outperform” rating in a report on Thursday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of C$38.67.

Wajax Price Performance

Shares of TSE:WJX opened at C$34.02 on Wednesday. Wajax has a fifty-two week low of C$24.86 and a fifty-two week high of C$40.00. The business has a 50-day moving average of C$33.80 and a two-hundred day moving average of C$31.67. The stock has a market capitalization of C$740.96 million, a P/E ratio of 11.57, a P/E/G ratio of 0.50 and a beta of 0.19. The company has a debt-to-equity ratio of 73.68, a current ratio of 2.03 and a quick ratio of 0.71.

Wajax (TSE:WJX) last announced its earnings results on Monday, November 2nd. The company reported C$0.59 earnings per share (EPS) for the quarter. Wajax had a return on equity of 11.04% and a net margin of 2.96%. The firm had revenue of C$477.80 million during the quarter. On average, equities research analysts predict that Wajax will post 3.49 EPS for the current fiscal 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.