Wajax (TSE:WJX) Raised to Outperform at National Bank Financial

Wajax (TSE:WJX) was upgraded by analysts at National Bank Financial from a “sector perform” rating to an “outperform” rating in a research note issued on Tuesday,BayStreet.CA reports. The brokerage presently has a C$37.00 price objective on the stock, up from their previous price objective of C$27.00. National Bank Financial’s target price would indicate a potential upside of 12.56% from the stock’s previous close.

WJX has been the subject of several other reports. Scotiabank raised their target price on shares of Wajax from C$26.00 to C$27.00 in a research report on Wednesday, November 5th. TD Securities increased their target price on Wajax from C$25.00 to C$28.00 in a research report on Wednesday, February 4th. Finally, BMO Capital Markets lifted their price target on Wajax from C$26.00 to C$27.00 in a research report on Wednesday, November 5th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Wajax presently has a consensus rating of “Hold” and a consensus price target of C$29.75.

Wajax Trading Up 4.0%

Shares of WJX stock traded up C$1.27 during trading hours on Tuesday, reaching C$32.87. The company’s stock had a trading volume of 165,226 shares, compared to its average volume of 38,583. The company has a current ratio of 2.22, a quick ratio of 0.71 and a debt-to-equity ratio of 90.28. Wajax has a one year low of C$15.55 and a one year high of C$33.15. The stock has a market capitalization of C$714.79 million, a P/E ratio of 15.73, a P/E/G ratio of 0.50 and a beta of 0.49. The firm’s fifty day simple moving average is C$28.88 and its 200 day simple moving average is C$26.45.

Wajax (TSE:WJX) last announced its earnings results on Monday, March 2nd. The company reported C$0.71 EPS for the quarter. The company had revenue of C$560.05 million during the quarter. Wajax had a return on equity of 8.91% and a net margin of 2.16%. Equities research analysts expect that Wajax will post 3.4850136 EPS for the current year.

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. It sells to leading manufacturer brands such as Hitachi, JCB, Bell, Hyster, Palfinger and other similar industries.