Stifel Nicolaus Reiterates "C$45.00" Price Target for Wajax (TSE:WJX)

Key Points

• Stifel Nicolaus maintained a “buy” rating on Wajax and reiterated a C$45.00 price target, implying 24% upside from the prior close.
• Analyst sentiment is mixed: Wajax has an average “hold” rating and a consensus price target of C$36.50, although National Bank Financial recently raised its target to C$36.00.
• Wajax reported quarterly EPS of C$0.82 on revenue of C$515.67 million, with a 3.18% net margin and 12.07% return on equity.

Wajax (TSE:WJX - Get Free Report) has been given a C$45.00 target price by investment analysts at Stifel Nicolaus in a research note issued to investors on Wednesday, BayStreet reports. The firm presently has a "buy" rating on the stock. Stifel Nicolaus' price objective suggests a potential upside of 24.00% from the stock's previous close.

Other research analysts have also issued reports about the stock. 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 note on Monday, August 10th. TD decreased their target price on shares of Wajax from C$35.00 to C$34.00 and set a "hold" rating for the company in a research report on Monday, August 10th. Finally, Scotiabank lowered their target price on shares of 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. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, Wajax presently has an average rating of "Hold" and a consensus price target of C$36.50.

Wajax Price Performance

Shares of WJX opened at C$36.29 on Wednesday. Wajax has a 12-month low of C$22.43 and a 12-month high of C$36.86. The business's fifty day moving average is C$31.43 and its 200 day moving average is C$31.14. The company has a quick ratio of 0.71, a current ratio of 1.92 and a debt-to-equity ratio of 66.87. The stock has a market cap of C$790.40 million, a P/E ratio of 12.34, a P/E/G ratio of 0.50 and a beta of 0.40.

Wajax (TSE:WJX - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported C$0.82 earnings per share (EPS) for the quarter. The business had revenue of C$515.67 million during the quarter. Wajax had a net margin of 3.18% and a return on equity of 12.07%. Sell-side analysts anticipate that Wajax will post 3.4850136 earnings per share 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.

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