Wajax (TSE:WJX) Sets New 12-Month High – Here’s Why

Wajax Co. (TSE:WJX) shares hit a new 52-week high on Thursday . The company traded as high as C$30.43 and last traded at C$30.38, with a volume of 54422 shares trading hands. The stock had previously closed at C$30.09.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on WJX shares. Scotiabank upped their target price on shares of Wajax from C$26.00 to C$27.00 in a research report on Wednesday, November 5th. National Bank Financial upped their price objective on Wajax from C$25.00 to C$27.00 and gave the stock a “sector perform” rating in a report on Monday, December 15th. BMO Capital Markets increased their price objective on Wajax from C$26.00 to C$27.00 in a research report on Wednesday, November 5th. Finally, TD Securities boosted their target price on Wajax from C$25.00 to C$28.00 in a research report on Wednesday, February 4th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Wajax presently has an average rating of “Hold” and an average price target of C$27.25.

Wajax Trading Up 1.0%

The firm has a market cap of C$660.64 million, a PE ratio of 14.54, a PEG ratio of 0.50 and a beta of 0.49. The firm has a fifty day simple moving average of C$28.35 and a two-hundred day simple moving average of C$25.96. The company has a current ratio of 2.10, a quick ratio of 0.71 and a debt-to-equity ratio of 116.61.

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.