Wajax (TSE:WJX) Hits New 52-Week High - Here's What Happened

Key Points

• Wajax shares reached a new 52-week high of C$36.86 and last traded at C$36.82, up from the prior close of C$36.42.
• Analyst sentiment remains mixed: two analysts rate the stock Buy and four rate it Hold, producing a consensus Hold rating and a C$36.50 target price. Stifel set the highest target at C$45.00.
• Wajax reported quarterly earnings of C$0.82 per share on revenue of C$515.67 million, with a 12.07% return on equity and 3.18% net margin.

Wajax Co. (TSE:WJX - Get Free Report)'s stock price hit a new 52-week high during trading on Thursday. The stock traded as high as C$36.86 and last traded at C$36.82, with a volume of 32521 shares trading hands. The stock had previously closed at C$36.42.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on WJX shares. TD lowered their price target on shares of Wajax from C$35.00 to C$34.00 and set a "hold" rating for the company in a report on Monday, August 10th. National Bank Financial increased their price target on Wajax from C$34.00 to C$36.00 and gave the company an "outperform" rating in a report on Monday, August 10th. Stifel Nicolaus set a C$45.00 price objective on Wajax and gave the company a "buy" rating in a research note on Wednesday. Finally, Scotiabank lowered their price objective 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. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of C$36.50.

Wajax Price Performance

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 company has a 50 day simple moving average of C$31.48 and a 200-day simple moving average of C$31.17. The stock has a market cap of C$810.00 million, a price-to-earnings ratio of 12.65, a PEG ratio of 0.50 and a beta of 0.40.

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

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