Wajax (TSE:WJX) Hits New 52-Week High – Here’s Why

Wajax Co. (TSE:WJX)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as C$29.50 and last traded at C$29.40, with a volume of 29618 shares traded. The stock had previously closed at C$28.67.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. BMO Capital Markets raised their price objective on Wajax from C$26.00 to C$27.00 in a research report on Wednesday, November 5th. Scotiabank raised their price target on Wajax from C$26.00 to C$27.00 in a report on Wednesday, November 5th. Finally, National Bankshares raised their target price on shares of Wajax from C$25.00 to C$27.00 and gave the stock a “sector perform” rating in a research note on Monday, December 15th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of C$26.50.

Wajax Stock Performance

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’s 50-day moving average price is C$27.91 and its 200-day moving average price is C$25.47. The company has a market cap of C$636.07 million, a P/E ratio of 14.00, a PEG ratio of 0.50 and a beta of 0.67.

Wajax (TSE:WJX) last issued its quarterly earnings data on Monday, November 3rd. The company reported C$0.75 earnings per share for the quarter. The business had revenue of C$483.15 million during the quarter. Wajax had a net margin of 2.55% and a return on equity of 10.40%. Equities analysts anticipate that Wajax Co. 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.