TD Securities Upgrades Wajax (TSE:WJX) to Strong-Buy

Wajax (TSE:WJX) was upgraded by equities researchers at TD Securities from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday, Zacks reports.

A number of other analysts have also recently weighed in on the company. National Bank Financial raised their price target on Wajax from C$36.00 to C$42.00 and gave the company an “outperform” rating in a research note on Thursday, October 15th. TD raised Wajax from a “hold” rating to a “buy” rating and set a C$41.00 price objective for the company in a research report on Wednesday. Stifel Nicolaus set a C$45.00 price objective on Wajax and gave the stock a “buy” rating in a research report on Wednesday, September 30th. Finally, Scotiabank dropped their price objective on Wajax from C$37.00 to C$36.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 7th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of C$38.67.

Wajax Stock Performance

Shares of WJX stock opened at C$34.02 on Wednesday. The company has a debt-to-equity ratio of 73.68, a quick ratio of 0.71 and a current ratio of 2.03. The firm has a market cap of C$740.96 million, a P/E ratio of 11.57, a P/E/G ratio of 0.50 and a beta of 0.19. The firm’s 50 day moving average price is C$33.80 and its 200-day moving average price is C$31.67. Wajax has a one year low of C$24.86 and a one year high of C$40.00.

Wajax (TSE:WJX) last issued its quarterly earnings results on Monday, November 2nd. The company reported C$0.59 earnings per share (EPS) for the quarter. Wajax had a net margin of 2.96% and a return on equity of 11.04%. The business had revenue of C$477.80 million for the quarter. As a group, equities research analysts predict that Wajax will post 3.49 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.