TD Cuts Wajax (TSE:WJX) Price Target to C$34.00

Wajax (TSE:WJX – Free Report) had its price target lowered by TD from C$35.00 to C$34.00 in a report released on Monday,BayStreet.CA reports. The firm currently has a hold rating on the stock.

Other analysts also recently issued reports about the company. Scotiabank cut their target price on Wajax from C$37.00 to C$36.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 7th. National Bank Financial boosted their price target on shares of Wajax from C$34.00 to C$36.00 and gave the company an “outperform” rating in a research report on Monday. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Wajax presently has an average rating of “Hold” and a consensus price target of C$34.80.

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Wajax Trading Down 1.0%

WJX opened at C$30.99 on Monday. The firm has a market capitalization of C$674.96 million, a price-to-earnings ratio of 11.11, a price-to-earnings-growth ratio of 0.50 and a beta of 0.44. The company’s 50 day simple moving average is C$31.62 and its two-hundred day simple moving average is C$31.07. Wajax has a 1-year low of C$22.43 and a 1-year high of C$35.00. The company has a debt-to-equity ratio of 72.41, a current ratio of 1.88 and a quick ratio of 0.71.

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

Insider Activity at Wajax

In other Wajax news, Director Jane Craighead acquired 1,100 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were purchased at an average cost of C$28.84 per share, for a total transaction of C$31,724.00. Following the completion of the acquisition, the director owned 11,900 shares of the company’s stock, valued at approximately C$343,196. The trade was a 10.19% increase in their position. Insiders own 0.97% of the company’s stock.

Wajax Company Profile

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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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