Wajax (TSE:WJX) Cut to “Hold” at TD Securities

Wajax (TSE:WJX) was downgraded by equities research analysts at TD Securities from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday,Zacks.com reports.

Other equities analysts also recently issued reports about the company. BMO Capital Markets increased their target price on Wajax from C$20.00 to C$22.00 in a research report on Tuesday, May 6th. Scotiabank increased their target price on Wajax from C$22.00 to C$23.50 and gave the stock a “sector perform” rating in a research report on Wednesday, May 7th. Finally, National Bankshares reduced their target price on Wajax from C$22.00 to C$20.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 9th.

Wajax Stock Performance

TSE WJX opened at C$22.43 on Tuesday. The business’s 50-day moving average price is C$19.11 and its 200 day moving average price is C$20.21. Wajax has a twelve month low of C$15.55 and a twelve month high of C$26.96. The company has a market capitalization of C$490.20 million, a PE ratio of 9.19, a price-to-earnings-growth ratio of 0.50 and a beta of 1.80. 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.