Wajax (TSE:WJX) Stock Lifted to Buy by TD

Key Points

• TD upgraded Wajax to Buy from Hold and set a C$41 price target, implying 18.74% upside from the share price at the time of the report.
• Analyst views are mixed but lean positive: Wajax has a consensus “Moderate Buy” rating and an average price target of C$38.67.
• Shares rose 5.1% on Wednesday to C$34.53. In its latest quarter, Wajax reported earnings of C$0.59 per share and revenue of C$477.8 million.

Wajax (TSE:WJX - Get Free Report) was upgraded by analysts at TD from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Wednesday, BayStreet reports. The brokerage currently has a C$41.00 price target on the stock. TD's target price points to a potential upside of 18.74% from the company's current price.

A number of other research analysts have also recently weighed in on WJX. Stifel Nicolaus set a C$45.00 price objective on shares of Wajax and gave the company a "buy" rating in a research report on Wednesday, September 30th. National Bank Financial raised their target price on shares of Wajax from C$36.00 to C$42.00 and gave the stock an "outperform" rating in a report on Thursday, October 15th. Finally, Scotiabank dropped their price target on shares of 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. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of C$38.67.

Wajax Trading Up 5.1%

WJX traded up C$1.66 on Wednesday, hitting C$34.53. The company had a trading volume of 167,253 shares, compared to its average volume of 69,953. The business's fifty day simple moving average is C$33.71 and its 200 day simple moving average is C$31.64. The company has a quick ratio of 0.71, a current ratio of 1.92 and a debt-to-equity ratio of 66.87. Wajax has a 12-month low of C$24.86 and a 12-month high of C$40.00. The company has a market cap of C$752.06 million, a PE ratio of 11.74, a PEG ratio of 0.50 and a beta of 0.19.

Wajax (TSE:WJX - Get Free Report) last issued its quarterly earnings data on Monday, November 2nd. The company reported C$0.59 earnings per share (EPS) for the quarter. The business had revenue of C$477.80 million for the quarter. Wajax had a return on equity of 12.07% and a net margin of 3.18%. Equities research analysts expect that Wajax will post 3.49 EPS 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.

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