Wajax (TSE:WJX) Reaches New 52-Week High – Here’s What Happened

Shares of Wajax Co. (TSE:WJX) reached a new 52-week high on Wednesday . The stock traded as high as C$28.17 and last traded at C$28.17, with a volume of 4208 shares trading hands. The stock had previously closed at C$27.77.

Analyst Upgrades and Downgrades

WJX has been the subject of a number of research reports. Scotiabank upped their price objective on shares of Wajax from C$26.00 to C$27.00 in a research note on Wednesday, November 5th. BMO Capital Markets boosted their price target on shares of Wajax from C$26.00 to C$27.00 in a report on Wednesday, November 5th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of C$24.75.

Wajax Stock Up 1.0%

The business has a 50 day moving average of C$25.56 and a two-hundred day moving average of C$24.06. The stock has a market capitalization of C$609.76 million, a PE ratio of 13.42, a PEG ratio of 0.50 and a beta of 0.67. 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 (TSE:WJX) last posted its earnings results on Monday, November 3rd. The company reported C$0.75 earnings per share (EPS) for the quarter. The company had revenue of C$483.15 million for the quarter. Wajax had a return on equity of 10.40% and a net margin of 2.55%. Analysts predict that Wajax Co. 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.