Wajax (TSE:WJX) Price Target Raised to C$27.00 at Scotiabank

Wajax (TSE:WJX) had its price objective lifted by equities researchers at Scotiabank from C$26.00 to C$27.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. Scotiabank’s price target would suggest a potential upside of 1.35% from the company’s current price.

A number of other equities analysts also recently commented on the stock. TD Securities boosted their target price on shares of Wajax from C$24.00 to C$25.00 and gave the stock a “hold” rating in a research note on Monday, August 11th. BMO Capital Markets increased their price target on shares of Wajax from C$22.00 to C$25.00 in a report on Tuesday, July 22nd. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of C$24.75.

Wajax Trading Up 6.3%

Shares of WJX traded up C$1.58 during mid-day trading on Wednesday, reaching C$26.64. 103,159 shares of the company’s stock traded hands, compared to its average volume of 50,526. The stock’s 50-day moving average is C$23.89 and its two-hundred day moving average is C$22.89. The company has a debt-to-equity ratio of 116.61, a current ratio of 2.10 and a quick ratio of 0.71. The stock has a market cap of C$579.31 million, a P/E ratio of 16.34, a P/E/G ratio of 0.50 and a beta of 0.71. Wajax has a 12 month low of C$15.55 and a 12 month high of C$26.90.

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.