Wajax (TSE:WJX) Reaches New 12-Month High - What's Next?

Key Points

• Wajax shares reached a new 52-week high, trading as high as C$40.00 and closing the session at C$39.60, up 2.7% from the prior close.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and an average price target of C$36.50, though targets range from C$34.00 to C$45.00.
• Wajax reported quarterly earnings of C$0.82 per share on revenue of C$515.67 million; analysts expect full-year EPS of approximately C$3.49.

Wajax Co. (TSE:WJX - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday. The company traded as high as C$40.00 and last traded at C$39.60, with a volume of 170282 shares traded. The stock had previously closed at C$38.56.

Analysts Set New Price Targets

WJX has been the topic of a number of analyst reports. Stifel Nicolaus set a C$45.00 target price on shares of Wajax and gave the company a "buy" rating in a research note on Wednesday, September 30th. National Bank Financial raised 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. TD lowered their price objective on Wajax from C$35.00 to C$34.00 and set a "hold" rating on the stock in a research report on Monday, August 10th. Finally, Scotiabank dropped 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. One investment 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.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of C$36.50.

Wajax Trading Up 2.7%

The company has a debt-to-equity ratio of 66.87, a current ratio of 1.92 and a quick ratio of 0.71. The stock's 50-day moving average is C$31.90 and its two-hundred day moving average is C$31.34. The stock has a market cap of C$862.49 million, a P/E ratio of 13.47, a price-to-earnings-growth ratio of 0.50 and a beta of 0.18.

Wajax (TSE:WJX - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported C$0.82 earnings per share for the quarter. The company 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%. Equities research analysts anticipate that Wajax Co. will post 3.4850136 EPS for the current 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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