TD Has Lowered Expectations for Wajax (TSE:WJX) Stock Price

Key Points

• TD lowered its price target for Wajax from C$35.00 to C$34.00 while maintaining a “hold” rating, implying approximately 7.3% upside from the current price.
• Analyst sentiment remains cautious: Wajax has one “buy” and four “hold” ratings, with a consensus rating of “hold” and an average price target of C$34.80.
• Wajax shares rose 1.1% to C$31.68, while the company’s latest quarter included C$0.82 in EPS and C$515.67 million in revenue.

Wajax (TSE:WJX - Get Free Report) had its price target decreased by analysts at TD from C$35.00 to C$34.00 in a research note issued to investors on Monday,BayStreet.CA reports. The firm currently has a "hold" rating on the stock. TD's target price would indicate a potential upside of 7.32% from the stock's current price.

WJX has been the subject of several other research reports. National Bank Financial upped their target price on shares of Wajax from C$34.00 to C$36.00 and gave the company an "outperform" rating in a report on Monday. Scotiabank reduced their price target 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. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of C$34.80.

Wajax Stock Up 1.1%

WJX stock traded up C$0.34 during trading on Monday, hitting C$31.68. 78,221 shares of the company's stock were exchanged, compared to its average volume of 68,448. The business has a 50-day moving average price of C$31.49 and a two-hundred day moving average price of C$31.01. The stock has a market capitalization of C$689.99 million, a price-to-earnings ratio of 11.35, a PEG ratio of 0.50 and a beta of 0.44. Wajax has a 52-week low of C$21.96 and a 52-week high of C$35.00. The company has a current ratio of 1.88, a quick ratio of 0.71 and a debt-to-equity ratio of 72.41.

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

Insiders Place Their Bets

In other Wajax news, Director Jane Craighead purchased 1,100 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The stock was purchased at an average price of C$28.84 per share, for a total transaction of C$31,724.00. Following the purchase, the director directly owned 11,900 shares in the company, valued at approximately C$343,196. This trade represents a 10.19% increase in their ownership of the stock. 0.97% of the stock is currently owned by corporate insiders.

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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