Wajax (TSE:WJX) Stock Price Expected to Rise, National Bank Financial Analyst Says

Key Points

• National Bank Financial raised Wajax’s price target from C$36 to C$42 and maintained an “outperform” rating, implying 10.29% upside from the previous close.
• Analyst sentiment is mixed but generally positive: Wajax has a “Moderate Buy” consensus rating and an average price target of C$37.50, with targets ranging from C$34 to C$45.
• Wajax shares rose to C$38.08, near their 52-week high of C$40.00. The company reported quarterly EPS of C$0.82 on revenue of C$515.67 million, while analysts expect full-year EPS of C$3.49.

Wajax (TSE:WJX - Get Free Report) had its target price raised by investment analysts at National Bank Financial from C$36.00 to C$42.00 in a note issued to investors on Thursday, BayStreet reports. The brokerage presently has an "outperform" rating on the stock. National Bank Financial's price objective indicates a potential upside of 10.29% from the company's previous close.

Several other analysts have also issued reports on the stock. Stifel Nicolaus set a C$45.00 price target on shares of Wajax and gave the stock a "buy" rating in a research report on Wednesday, September 30th. Scotiabank cut their price objective on shares of Wajax from C$37.00 to C$36.00 and set a "sector perform" rating for the company in a research report on Tuesday, July 7th. Finally, TD reduced 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 note on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of C$37.50.

Wajax Stock Performance

Shares of TSE WJX traded up C$1.03 during trading hours on Thursday, hitting C$38.08. 32,027 shares of the company's stock were exchanged, compared to its average volume of 69,251. The company's 50-day moving average price is C$32.27 and its 200-day moving average price is C$31.54. Wajax has a 1-year low of C$22.43 and a 1-year high of C$40.00. The stock has a market capitalization of C$829.38 million, a price-to-earnings ratio of 12.95, a PEG ratio of 0.50 and a beta of 0.18. The company has a debt-to-equity ratio of 66.87, a current ratio of 1.92 and a quick ratio of 0.71.

Wajax (TSE:WJX - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported C$0.82 earnings per share (EPS) for the quarter. Wajax had a return on equity of 12.07% and a net margin of 3.18%. The firm had revenue of C$515.67 million for the quarter. On average, sell-side analysts expect that Wajax will post 3.49 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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