Scotiabank Raises Wajax (TSE:WJX) Price Target to C$38.00

Key Points

• Scotiabank raised its price target to C$38.00 (from C$34.00) and maintained a "sector perform" rating, implying roughly a 16.24% upside from the current share price.
• Analyst views are mixed: MarketBeat shows a consensus "Hold" with a consensus price target of C$35.75, while National Bank upgraded Wajax to "outperform" (PT C$37); the stock last traded near C$32.69 with a market cap of about C$713M and a P/E of 12.67.

Wajax (TSE:WJX - Get Free Report) had its price objective raised by equities research analysts at Scotiabank from C$34.00 to C$38.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The firm currently has a "sector perform" rating on the stock. Scotiabank's price target suggests a potential upside of 16.24% from the company's current price.

Several other research firms also recently weighed in on WJX. National Bank Financial upgraded shares of Wajax from a "hold" rating to an "outperform" rating and increased their price target for the stock from C$27.00 to C$37.00 in a research report on Tuesday, March 3rd. BMO Capital Markets decreased their price target on shares of Wajax from C$40.00 to C$34.00 and set a "market perform" rating on the stock in a research report on Wednesday, March 4th. Finally, TD Securities increased their price target on shares of Wajax from C$28.00 to C$34.00 and gave the stock a "hold" rating in a research report on Wednesday, March 4th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Wajax currently has a consensus rating of "Hold" and a consensus price target of C$35.75.

Wajax Stock Performance

Shares of WJX traded up C$0.31 during trading hours on Tuesday, hitting C$32.69. The stock had a trading volume of 92,575 shares, compared to its average volume of 52,557. The company has a debt-to-equity ratio of 78.49, a current ratio of 2.14 and a quick ratio of 0.71. Wajax has a 12 month low of C$17.14 and a 12 month high of C$34.88. The firm has a market capitalization of C$713.23 million, a PE ratio of 12.67, a PEG ratio of 0.50 and a beta of 0.51. The stock has a fifty day moving average price of C$32.13 and a 200 day moving average price of C$28.88.

Wajax (TSE:WJX - Get Free Report) last issued its quarterly earnings data on Tuesday, March 3rd. The company reported C$0.71 EPS for the quarter. Wajax had a return on equity of 10.91% and a net margin of 2.68%.The company had revenue of C$560.05 million during the quarter. Analysts anticipate that Wajax 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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