Scotiabank Cuts Wajax (TSE:WJX) Price Target to C$37.00

Key Points

• Scotiabank cut its price target for Wajax to C$37.00 (from C$38.00) and left a "sector perform" rating, with the target implying roughly a 24.6% upside
• Wajax shares dropped to C$29.70 on heavy volume (326,908 shares vs. an average of 58,655), and analysts' consensus remains a "Hold" with an average price target of C$35.50, though broker views are mixed (National Bank upgraded to "Outperform" at C$37 while TD and BMO set targets around C$34–C$37).

Wajax (TSE:WJX - Get Free Report) had its price objective dropped by investment analysts at Scotiabank from C$38.00 to C$37.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has a "sector perform" rating on the stock. Scotiabank's price target points to a potential upside of 24.58% from the stock's current price. Scotiabank also issued estimates for Wajax's FY2026 earnings at $3.42 EPS and FY2027 earnings at $3.72 EPS.

Several other brokerages also recently commented on WJX. National Bank Financial upgraded shares of Wajax from a "hold" rating to an "outperform" rating and boosted their price objective for the company from C$27.00 to C$37.00 in a research report on Tuesday, March 3rd. TD Securities boosted their price objective on shares of Wajax from C$28.00 to C$34.00 and gave the company a "hold" rating in a research report on Wednesday, March 4th. Finally, BMO Capital Markets lowered their price target on shares of Wajax from C$40.00 to C$34.00 and set a "market perform" rating for the company in a report on Wednesday, March 4th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of C$35.50.

Wajax Price Performance

WJX traded down C$4.24 during trading on Tuesday, hitting C$29.70. 326,908 shares of the stock traded hands, compared to its average volume of 58,655. Wajax has a twelve month low of C$19.15 and a twelve month high of C$34.88. The company has a market cap of C$647.99 million, a price-to-earnings ratio of 11.51, a PEG ratio of 0.50 and a beta of 0.59. The company has a debt-to-equity ratio of 78.49, a current ratio of 2.14 and a quick ratio of 0.71. The business has a 50 day moving average price of C$32.32 and a 200 day moving average price of C$29.10.

Wajax (TSE:WJX - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The company reported C$0.65 EPS for the quarter. Wajax had a net margin of 2.68% and a return on equity of 10.91%. The business had revenue of C$502.07 million during the quarter. Equities research analysts forecast that Wajax will post 3.4850136 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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