BMO Capital Markets Issues Pessimistic Forecast for Wajax (TSE:WJX) Stock Price

Wajax (TSE:WJX) had its price objective dropped by equities researchers at BMO Capital Markets from C$40.00 to C$34.00 in a report issued on Wednesday,BayStreet.CA reports. The brokerage presently has a “market perform” rating on the stock. BMO Capital Markets’ price objective indicates a potential upside of 0.59% from the company’s previous close.

A number of other brokerages have also issued reports on WJX. National Bank Financial upgraded shares of Wajax from a “hold” rating to an “outperform” rating and lifted their price target for the stock from C$27.00 to C$37.00 in a research note on Tuesday. Scotiabank boosted their target price on shares of Wajax from C$26.00 to C$27.00 in a research report on Wednesday, November 5th. Finally, TD Securities upped 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. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of C$34.75.

Wajax Stock Up 0.1%

Shares of TSE WJX traded up C$0.03 during trading on Wednesday, reaching C$33.80. 97,132 shares of the stock were exchanged, compared to its average volume of 44,098. The company has a market capitalization of C$735.01 million, a price-to-earnings ratio of 16.17, a price-to-earnings-growth ratio of 0.50 and a beta of 0.49. The business’s 50-day moving average price is C$29.00 and its 200 day moving average price is C$26.52. The company has a quick ratio of 0.71, a current ratio of 2.22 and a debt-to-equity ratio of 90.28. Wajax has a twelve month low of C$15.55 and a twelve month high of C$34.20.

Wajax (TSE:WJX) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported C$0.71 earnings per share (EPS) for the quarter. Wajax had a return on equity of 8.91% and a net margin of 2.16%.The company had revenue of C$560.05 million for the quarter. As a group, equities analysts forecast that Wajax will post 3.4850136 EPS for the current fiscal 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.