TD Issues Pessimistic Forecast for Wajax (TSE:WJX) Stock Price

Key Points

• TD cut its price target on Wajax to C$33.00 from C$35.00 and maintained a "hold" rating, implying roughly a 12.4% upside from the current share price.
• Analyst coverage is mixed—one Buy and four Hold—with an average target of C$34.40; Wajax traded at C$29.36, has a market cap of C$640.6M, and recently reported quarterly EPS of C$0.65 on C$502.1M revenue.

Wajax (TSE:WJX - Get Free Report) had its price target lowered by TD from C$35.00 to C$33.00 in a report issued on Wednesday,BayStreet.CA reports. The firm presently has a "hold" rating on the stock. TD's target price would suggest a potential upside of 12.40% from the company's current price.

WJX has been the subject of several other research reports. TD Securities raised their price objective on shares of Wajax from C$28.00 to C$34.00 and gave the stock a "hold" rating in a research note on Wednesday, March 4th. Scotiabank decreased their price objective on shares of Wajax from C$38.00 to C$37.00 and set a "sector perform" rating for the company in a research note on Tuesday. National Bank Financial raised shares of Wajax from a "hold" rating to an "outperform" rating and raised their price objective for the stock from C$27.00 to C$37.00 in a research note on Tuesday, March 3rd. Finally, BMO Capital Markets decreased their price objective on shares of Wajax from C$40.00 to C$34.00 and set a "market perform" rating for the company in a research note on Wednesday, March 4th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of C$34.40.

Wajax Trading Up 0.2%

WJX traded up C$0.06 on Wednesday, hitting C$29.36. The company had a trading volume of 185,452 shares, compared to its average volume of 61,493. The company has a market cap of C$640.58 million, a PE ratio of 11.38, a PEG ratio of 0.50 and a beta of 0.59. Wajax has a 12-month low of C$20.61 and a 12-month high of C$34.88. The company has a quick ratio of 0.71, a current ratio of 2.14 and a debt-to-equity ratio of 78.49. The business's fifty day simple moving average is C$32.29 and its 200 day simple moving average is C$29.14.

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

About Wajax

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.