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

Shares of Wajax Co. (TSE:WJX) reached a new 52-week high on Thursday. The company traded as high as C$36.86 and last traded at C$36.82, with a volume of 32521 shares. The stock had previously closed at C$36.42.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on WJX shares. National Bank Financial increased their price target on Wajax from C$34.00 to C$36.00 and gave the stock an “outperform” rating in a research note on Monday, August 10th. Scotiabank reduced their price objective on shares of Wajax from C$37.00 to C$36.00 and set a “sector perform” rating for the company in a report on Tuesday, July 7th. TD decreased their target price on shares of Wajax from C$35.00 to C$34.00 and set a “hold” rating for the company in a research report on Monday, August 10th. Finally, Stifel Nicolaus set a C$45.00 target price on shares of Wajax and gave the company a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of C$36.50.

Wajax Stock Up 2.1%

The company has a debt-to-equity ratio of 66.87, a current ratio of 1.92 and a quick ratio of 0.71. The stock has a market capitalization of C$810.00 million, a P/E ratio of 12.65, a PEG ratio of 0.50 and a beta of 0.40. The stock’s fifty day moving average is C$31.48 and its two-hundred day moving average is C$31.17.

Wajax (TSE:WJX) last posted its quarterly earnings results on Thursday, August 6th. The company reported C$0.82 earnings per share (EPS) for the quarter. Wajax had a return on equity of 12.07% and a net margin of 3.18%.The company had revenue of C$515.67 million for the quarter. As a group, research analysts predict that Wajax Co. will post 3.4850136 earnings per share 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.