National Bank Financial Issues Positive Forecast for Wajax (TSE:WJX) Stock Price

Key Points

• National Bank Financial raised its price target for Wajax from C$34.00 to C$36.00 and maintained an “outperform” rating, implying 13.64% upside from the previous close.
• Analyst sentiment remains mixed: Scotiabank and TD rate the stock “sector perform” and “hold,” respectively, while the broader analyst consensus is “Hold” with an average target of C$34.80.
• Wajax reported quarterly EPS of C$0.82 on revenue of C$515.67 million. The stock recently traded at C$31.68, with a market capitalization of about C$690 million and a 12-month range of C$21.96 to C$35.00.

Wajax (TSE:WJX - Get Free Report) had its price objective lifted by equities researchers at National Bank Financial from C$34.00 to C$36.00 in a report issued on Monday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. National Bank Financial's price target points to a potential upside of 13.64% from the company's previous close.

A number of other research firms also recently commented on WJX. Scotiabank cut their target price 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. TD dropped their price target on Wajax from C$35.00 to C$33.00 and set a "hold" rating on the stock in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of C$34.80.

Wajax Stock Performance

TSE:WJX traded up C$0.34 during mid-day trading on Monday, reaching C$31.68. The company's stock had a trading volume of 78,221 shares, compared to its average volume of 68,448. The company has a current ratio of 1.88, a quick ratio of 0.71 and a debt-to-equity ratio of 72.41. The stock has a market cap of C$689.99 million, a P/E ratio of 11.35, a PEG ratio of 0.50 and a beta of 0.44. The firm's fifty day moving average price is C$31.49 and its two-hundred day moving average price is C$31.01. Wajax has a 12-month low of C$21.96 and a 12-month high of C$35.00.

Wajax (TSE:WJX - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported C$0.82 EPS for the quarter. Wajax had a net margin of 2.97% and a return on equity of 11.63%. The firm had revenue of C$515.67 million during the quarter. On average, equities analysts forecast that Wajax will post 3.4850136 EPS for the current fiscal year.

Insider Activity

In other Wajax news, Director Jane Craighead bought 1,100 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The stock was bought at an average cost of C$28.84 per share, for a total transaction of C$31,724.00. Following the completion of the transaction, the director owned 11,900 shares of the company's stock, valued at C$343,196. This represents a 10.19% increase in their position. Insiders own 0.97% of the company's stock.

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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