TD Securities Raises Wajax (TSE:WJX) Price Target to C$25.00

Key Points

• TD Securities has raised the price target for Wajax (TSE:WJX) from C$24.00 to C$25.00, suggesting a potential upside of 13.38% from the current stock price.
• Wajax's stock saw a 0.7% increase, trading at C$22.05 with a market capitalization of approximately C$481.89 million.
• The company's core business involves selling parts and service support for industrial equipment, primarily catering to sectors like construction, mining, and forestry.

Wajax (TSE:WJX - Get Free Report) had its price objective increased by equities research analysts at TD Securities from C$24.00 to C$25.00 in a research note issued to investors on Monday,BayStreet.CA reports. The brokerage currently has a "hold" rating on the stock. TD Securities' price objective would indicate a potential upside of 13.38% from the company's current price.

Several other brokerages also recently weighed in on WJX. BMO Capital Markets lifted their target price on shares of Wajax from C$22.00 to C$25.00 in a report on Tuesday, July 22nd. Scotiabank raised their price objective on shares of Wajax from C$22.00 to C$23.50 and gave the company a "sector perform" rating in a research note on Wednesday, May 7th.

Wajax Stock Up 0.7%

Wajax stock traded up C$0.15 during mid-day trading on Monday, reaching C$22.05. 33,781 shares of the company's stock were exchanged, compared to its average volume of 55,972. Wajax has a twelve month low of C$15.55 and a twelve month high of C$26.20. The company has a fifty day moving average of C$23.05 and a 200-day moving average of C$20.69. The company has a market cap of C$481.89 million, a P/E ratio of 9.04, a P/E/G ratio of 0.50 and a beta of 1.80. The company has a quick ratio of 0.71, a current ratio of 2.10 and a debt-to-equity ratio of 116.61.

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.

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