Wajax (TSE:WJX) Sets New 52-Week High – Still a Buy?

Wajax Co. (TSE:WJX) shares reached a new 52-week high during trading on Tuesday . The company traded as high as C$25.25 and last traded at C$24.77, with a volume of 25300 shares changing hands. The stock had previously closed at C$24.67.

Analysts Set New Price Targets

A number of research firms recently commented on WJX. BMO Capital Markets increased their price objective on Wajax from C$26.00 to C$27.00 in a research note on Wednesday. TD Securities increased their price objective on Wajax from C$24.00 to C$25.00 and gave the company a “hold” rating in a research note on Monday, August 11th. Finally, Scotiabank lifted their price objective on Wajax from C$26.00 to C$27.00 in a research report on Wednesday. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of C$24.75.

Wajax Stock Performance

The company has a market cap of C$585.84 million, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 0.50 and a beta of 0.71. The stock’s fifty day simple moving average is C$23.95 and its two-hundred day simple moving average is C$22.92. The company has a debt-to-equity ratio of 116.61, a quick ratio of 0.71 and a current ratio of 2.10.

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.