National Bank Financial Issues Pessimistic Forecast for Wajax (TSE:WJX) Stock Price

Wajax (TSE:WJX) had its target price dropped by analysts at National Bank Financial from C$37.00 to C$34.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the stock. National Bank Financial’s price target suggests a potential upside of 15.80% from the stock’s current price.

Several other brokerages have also recently weighed in on WJX. BMO Capital Markets decreased their price target on shares of Wajax from C$40.00 to C$34.00 and set a “market perform” rating for the company in a research note on Wednesday, March 4th. TD decreased their target price on shares of Wajax from C$35.00 to C$33.00 and set a “hold” rating for the company in a research note on Wednesday. TD Securities raised their target price on shares of Wajax from C$28.00 to C$34.00 and gave the company a “hold” rating in a research note on Wednesday, March 4th. Finally, Scotiabank decreased their target price on shares of Wajax from C$38.00 to C$37.00 and set a “sector perform” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Wajax has a consensus rating of “Hold” and a consensus target price of C$34.40.

Wajax Trading Up 0.2%

Shares of TSE:WJX traded up C$0.06 during mid-day trading on Wednesday, reaching C$29.36. The stock had a trading volume of 185,452 shares, compared to its average volume of 61,493. The company has a current ratio of 2.14, a quick ratio of 0.71 and a debt-to-equity ratio of 78.49. The firm has a market cap of C$640.58 million, a PE ratio of 11.38, a price-to-earnings-growth ratio of 0.50 and a beta of 0.59. The firm has a 50 day simple moving average of C$32.29 and a two-hundred day simple moving average of C$29.14. Wajax has a twelve month low of C$20.61 and a twelve month high of C$34.88.

Wajax (TSE:WJX) last announced its earnings results on Monday, May 4th. The company reported C$0.65 EPS for the quarter. The firm had revenue of C$502.07 million for the quarter. Wajax had a net margin of 2.68% and a return on equity of 10.91%. On average, research analysts predict that Wajax will post 3.4850136 EPS for the current fiscal 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. It sells to leading manufacturer brands such as Hitachi, JCB, Bell, Hyster, Palfinger and other similar industries.